Grupo Mexico (OTCMKTS:GMBXF) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Grupo Mexico's stock experienced a significant increase in trading volume, with 85,404 shares exchanged, a rise of 254% compared to the previous session.
• Following changes in analyst ratings, Grupo Mexico was downgraded to a "hold" from a "strong-buy" by Goldman Sachs and Jefferies Financial Group, while Morgan Stanley upgraded it to "overweight".
• The company's average stock rating is currently "Hold", with one analyst giving it a Buy rating and four others rating it as Hold.

Shares of Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF - Get Free Report) saw an uptick in trading volume on Tuesday . 85,404 shares changed hands during mid-day trading, an increase of 254% from the previous session's volume of 24,120 shares.The stock last traded at $7.71 and had previously closed at $7.46.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GMBXF. The Goldman Sachs Group lowered Grupo Mexico from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. HSBC lowered Grupo Mexico to a "hold" rating in a research note on Monday. Morgan Stanley raised Grupo Mexico to an "overweight" rating in a research note on Tuesday, July 15th. Finally, Jefferies Financial Group lowered Grupo Mexico from a "strong-buy" rating to a "hold" rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold".

Grupo Mexico Price Performance

The company has a 50-day simple moving average of $7.09 and a 200-day simple moving average of $6.03.

Grupo Mexico Company Profile

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.

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