Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Up - Still a Buy?

Key Points

• Grupo Mexico's stock opened at $6.95, marking a significant increase from its previous close of $6.65.
• Analysts at Morgan Stanley have upgraded Grupo Mexico to an "overweight" rating, contributing to an overall rating of "Moderate Buy" from analysts.
• The stock has seen a 3.8% increase recently, with its 50-day and 200-day simple moving averages at $6.38 and $5.61, respectively.

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $6.65, but opened at $6.95. Grupo Mexico shares last traded at $6.95, with a volume of 2,152 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised shares of Grupo Mexico to an "overweight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Grupo Mexico Stock Up 3.8%

The stock's fifty day simple moving average is $6.38 and its 200-day simple moving average is $5.61.

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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