Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Down - Should You Sell?

Key Points

• Grupo Mexico's shares gapped down on Monday, opening at $8.38 after closing at $8.72, and are currently trading at $7.20.
• Recent analyst reports show a mixed outlook, with Jefferies and HSBC downgrading to a "hold" rating, while Morgan Stanley upgraded to "overweight."
• The stock has seen a decline of 14.4% over recent trading periods, with a fifty-day moving average of $7.06 and a 200-day moving average of $6.02.

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $8.72, but opened at $8.38. Grupo Mexico shares last traded at $7.20, with a volume of 21,756 shares.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GMBXF shares. Jefferies Financial Group downgraded shares of Grupo Mexico to a "hold" rating in a research report on Monday. HSBC downgraded shares of Grupo Mexico to a "hold" rating in a research report on Monday. Morgan Stanley upgraded Grupo Mexico to an "overweight" rating in a research note on Tuesday, July 15th. Finally, The Goldman Sachs Group downgraded Grupo Mexico from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, September 17th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold".

Grupo Mexico Stock Down 14.4%

The business has a fifty day moving average of $7.06 and a 200 day moving average of $6.02.

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.

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