Grupo Mexico (OTCMKTS:GMBXF) Sets New 1-Year High – Still a Buy?

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF)’s share price reached a new 52-week high on Monday . The company traded as high as $10.6999 and last traded at $10.55, with a volume of 8858 shares traded. The stock had previously closed at $10.22.

Analyst Upgrades and Downgrades

GMBXF has been the subject of several analyst reports. HSBC reissued a “hold” rating on shares of Grupo Mexico in a research note on Friday, October 17th. Hsbc Global Res raised Grupo Mexico to a “hold” rating in a research report on Monday, October 6th. Jefferies Financial Group cut shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, The Goldman Sachs Group downgraded shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 17th. One investment analyst has rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Grupo Mexico Trading Up 1.2%

The business’s fifty day simple moving average is $9.17 and its two-hundred day simple moving average is $7.84.

About Grupo Mexico

Grupo México is a diversified Mexican industrial conglomerate with principal operations in mining, transportation and infrastructure. The company’s core business is the extraction and processing of base and precious metals, while complementary divisions provide freight rail and logistics services across Mexico. Grupo México operates as a vertically integrated enterprise that combines mineral production with the transport and logistics capabilities needed to move bulk commodities to market.

In mining, Grupo México is best known as the parent of Southern Copper Corporation and as one of the world’s larger copper producers.