Zacks Investment Research upgraded shares of Grupo Simec SAB de CV (NYSEAMERICAN:SIM) from a strong sell rating to a hold rating in a report issued on Wednesday.

According to Zacks, “Grupo Simec, S.A, de C.V. is the leading mini-mill steel producer in Mexico and manufactures a broad range of non-flat structural steel products and is also among Mexico’s lowest cost producers of extruded aluminum products. “

Separately, TheStreet upgraded shares of Grupo Simec SAB de CV from a c rating to a b- rating in a report on Tuesday, July 24th.

SIM stock opened at $9.58 on Wednesday. Grupo Simec SAB de CV has a 12 month low of $8.20 and a 12 month high of $10.90.

Grupo Simec SAB de CV (NYSEAMERICAN:SIM) last posted its quarterly earnings results on Monday, July 23rd. The basic materials company reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.11). The company had revenue of $469.19 million during the quarter. Grupo Simec SAB de CV had a negative return on equity of 9.90% and a negative net margin of 14.51%.

A hedge fund recently raised its stake in Grupo Simec SAB de CV stock. Renaissance Technologies LLC boosted its holdings in shares of Grupo Simec SAB de CV (NYSEAMERICAN:SIM) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,600 shares of the basic materials company’s stock after acquiring an additional 8,800 shares during the period. Renaissance Technologies LLC owned about 0.14% of Grupo Simec SAB de CV worth $2,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 0.24% of the stock is currently owned by institutional investors.

About Grupo Simec SAB de CV

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and structural steel products in the United States, Mexico, Canada, and Brazil. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold finished bars, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.

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