Grupo Mexico (OTCMKTS:GMBXF) Shares Gap Up - What's Next?

Key Points

• Gapped up premarket: the stock opened at $11.46 versus the prior close of $10.64 and last traded at $10.84 on very light volume (240 shares).
• Goldman Sachs upgraded Grupo México from "hold" to "buy" on April 10; overall analyst coverage is split (two Buy, two Hold), producing a Moderate Buy consensus.
• Grupo México is a diversified industrial conglomerate and a major copper producer (parent of Southern Copper) with integrated rail and logistics operations supporting its mining business.

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $10.64, but opened at $11.46. Grupo Mexico shares last traded at $10.84, with a volume of 240 shares.

Wall Street Analyst Weigh In

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 given a Hold rating to the company. According to data from MarketBeat, Grupo Mexico presently has an average rating of "Moderate Buy".

Grupo Mexico Stock Up 1.0%

The stock has a 50 day moving average price of $11.31 and a 200 day moving average price of $10.29.

Grupo Mexico Company Profile

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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