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

Shares of Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.9160 and last traded at $9.9160, with a volume of 2302 shares. The stock had previously closed at $9.74.

Analysts Set New Price Targets

GMBXF has been the topic of several recent analyst reports. HSBC reiterated a “hold” rating on shares of Grupo Mexico in a research report on Friday, October 17th. Hsbc Global Res raised shares of Grupo Mexico to a “hold” rating in a research note on Monday, October 6th. The Goldman Sachs Group lowered shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 17th. Finally, Jefferies Financial Group downgraded shares of Grupo Mexico from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. One equities research 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, the stock currently has an average rating of “Hold”.

Grupo Mexico Trading Up 2.7%

The stock has a fifty day moving average price of $8.72 and a 200-day moving average price of $7.40.

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.