Grupo Simec (NYSEAMERICAN:SIM) Sees Unusually-High Trading Volume – Time to Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw strong trading volume on Wednesday . 2,137 shares changed hands during mid-day trading, an increase of 58% from the previous session’s volume of 1,353 shares.The stock last traded at $25.70 and had previously closed at $22.15.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Grupo Simec from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 8th.

Grupo Simec Trading Up 16.0 %

The firm has a market cap of $3.95 billion, a price-to-earnings ratio of 7.60 and a beta of 0.29.

Grupo Simec Company Profile

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