Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Down – Here’s Why

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) shares gapped down prior to trading on Wednesday . The stock had previously closed at $12.14, but opened at $11.50. Grupo Mexico shares last traded at $11.80, with a volume of 234 shares trading hands.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded Grupo Mexico from a “hold” rating to a “buy” rating in a research note on Friday, April 10th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Grupo Mexico Trading Up 1.8%

The stock has a 50 day moving average price of $11.41 and a two-hundred day moving average price of $10.12.

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.