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

Key Points

• Grupo Mexico reached a new 52-week high of $7.50 during trading, closing at $7.25 with a volume of 1260 shares.
• Morgan Stanley has upgraded Grupo Mexico to an "overweight" rating, contributing to its consensus rating of "Moderate Buy."
• The company is primarily involved in copper production, alongside transportation and infrastructure services, operating across various divisions including Mining and Transportation.

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $7.50 and last traded at $7.25, with a volume of 1260 shares. The stock had previously closed at $7.34.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. The Goldman Sachs Group cut shares of Grupo Mexico to a "neutral" rating in a report on Wednesday. Morgan Stanley upgraded Grupo Mexico to an "overweight" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold".

Grupo Mexico Stock Down 1.9%

The business has a 50 day simple moving average of $6.65 and a 200-day simple moving average of $5.78.

About Grupo Mexico

Grupo México, SAB. de C.V. engages in copper production, cargo transportation, and infrastructure businesses worldwide. The company operates through Mining, Transportation, and Infrastructure divisions. The Mining division explores for copper, silver, molybdenum, zinc, sulfuric acid, gold, and selenium.