Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Down - Here's Why

Key Points

• Shares gapped down — Grupo México opened at $11.50 after a $12.14 close and last traded at $11.80 on very light volume (234 shares).
• Goldman Sachs upgraded the stock from "hold" to "buy" on April 10; overall analyst coverage is two Buys and two Holds, giving a MarketBeat average rating of "Moderate Buy".
• The stock sits near its 50‑day and 200‑day moving averages ($11.41 and $10.12), and Grupo México is a vertically integrated Mexican conglomerate best known as a large copper producer and parent of Southern Copper.

Shares of Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $12.14, but opened at $11.50. Grupo Mexico shares last traded at $11.80, with a volume of 234 shares traded.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded Grupo Mexico from a "hold" rating to a "buy" rating in a research note on Friday, April 10th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy".

Grupo Mexico Stock Performance

The firm has a 50 day moving average price of $11.41 and a 200 day moving average price of $10.12.

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.

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