Grupo Mexico (OTCMKTS:GMBXF) Reaches New 52-Week High – Still a Buy?

Shares of Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) reached a new 52-week high on Tuesday . The stock traded as high as $11.7418 and last traded at $11.20, with a volume of 11575 shares traded. The stock had previously closed at $10.9785.

Analyst Upgrades and Downgrades

GMBXF has been the topic of a number of recent research reports. HSBC reaffirmed a “hold” rating on shares of Grupo Mexico in a research report on Friday, October 17th. Hsbc Global Res raised Grupo Mexico to a “hold” rating in a research report on Monday, October 6th. Finally, Jefferies Financial Group lowered Grupo Mexico from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Grupo Mexico presently has an average rating of “Hold”.

Grupo Mexico Price Performance

The stock has a 50-day simple moving average of $9.35 and a 200-day simple moving average of $7.98.

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.