Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Up - Time to Buy?

Key Points

• Shares of Grupo Mexico gapped up premarket — prior close $12.00, opened $12.72 — but last traded $12.1160 on only 243 shares, suggesting limited volume behind the move.
• Goldman Sachs upgraded the stock from "hold" to "buy" on April 10; analysts are split (two Buy, two Hold), leaving an average rating of Moderate Buy.
• Technical momentum is intact with the 50-day and 200-day moving averages at $11.39 and $10.02, and the company remains a diversified Mexican industrial conglomerate and major copper producer (parent of Southern Copper).

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $12.00, but opened at $12.72. Grupo Mexico shares last traded at $12.1160, with a volume of 243 shares.

Analyst Upgrades and Downgrades

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 research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".

Grupo Mexico Stock Down 0.1%

The firm has a 50 day moving average price of $11.39 and a 200 day moving average price of $10.02.

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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