Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) Sees Significant Drop in Short Interest

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totaling 1,489,240 shares, a decrease of 40.6% from the November 30th total of 2,508,945 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 119,937 shares, the days-to-cover ratio is currently 12.4 days. Based on an average daily volume of 119,937 shares, the days-to-cover ratio is currently 12.4 days. Currently, 0.0% of the company’s stock are sold short.

Grupo Mexico Price Performance

Shares of Grupo Mexico stock traded up $0.03 during trading on Friday, hitting $9.78. 16,152 shares of the company’s stock traded hands, compared to its average volume of 39,064. The firm’s fifty day moving average price is $8.82 and its 200 day moving average price is $7.47. Grupo Mexico has a twelve month low of $4.39 and a twelve month high of $10.02.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Hsbc Global Res raised shares of Grupo Mexico to a “hold” rating in a report on Monday, October 6th. The Goldman Sachs Group cut Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Jefferies Financial Group lowered Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, HSBC restated a “hold” rating on shares of Grupo Mexico in a research note on Friday, October 17th. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Grupo Mexico presently has an average rating of “Hold”.

Grupo Mexico Company Profile

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.