Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Down – Should You Sell?

Shares of Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) gapped down before the market opened on Friday . The stock had previously closed at $8.98, but opened at $8.4880. Grupo Mexico shares last traded at $8.85, with a volume of 6,132 shares traded.

Analysts Set New Price Targets

GMBXF has been the subject of several research reports. The Goldman Sachs Group downgraded shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 17th. Hsbc Global Res upgraded shares of Grupo Mexico to a “hold” rating in a 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. Morgan Stanley upgraded shares of Grupo Mexico to an “overweight” rating in a report on Tuesday, July 15th. Finally, HSBC restated a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Grupo Mexico Price Performance

The business’s 50 day simple moving average is $7.68 and its 200 day simple moving average is $6.47.

About Grupo Mexico

Grupo México, SAB. de C.V. engages in copper production, cargo transportation, and infrastructure businesses worldwide. The company operates through Mining, Transportation, and Infrastructure divisions. The Mining division explores for copper, silver, molybdenum, zinc, sulfuric acid, gold, and selenium.