Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) Sees Large Growth in Short Interest

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 1,533,788 shares, a growth of 344.3% from the September 30th total of 345,216 shares. Based on an average daily volume of 33,963 shares, the short-interest ratio is currently 45.2 days. Currently, 0.0% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Zacks Research raised Grupo Mexico from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Grupo Mexico Stock Performance

Grupo Mexico stock opened at $12.62 on Wednesday. The firm has a 50-day moving average of $13.04 and a 200-day moving average of $12.03. Grupo Mexico has a one year low of $7.71 and a one year high of $14.29.

About Grupo Mexico

Grupo México, SAB. de C.V. is a Mexican conglomerate with operations in mining, transportation and infrastructure. Its mining business is conducted primarily through Americas Mining Corporation, which owns a controlling interest in Southern Copper Corporation. The company’s principal products include copper, molybdenum, silver, zinc and other mineral concentrates.

Grupo México operates mining and processing facilities in Mexico, Peru and the United States. Its Mexican operations include the Buenavista del Cobre and La Caridad mining complexes, while Southern Copper operates the Toquepala and Cuajone mines and related processing facilities in Peru.