Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) Sees Large Decline in Short Interest

Key Points

• Grupo Mexico, S.A.B. de C.V. experienced a 54.5% decrease in short interest in September, totaling 1,691,000 shares compared to 3,719,900 shares at the end of August.
• Wall Street analysts have mixed ratings for Grupo Mexico, with Morgan Stanley upgrading to "overweight" and Goldman Sachs downgrading to "hold", resulting in a consensus rating of "Hold".
• Grupo Mexico's stock rose 2.0% to $8.72 during trading, with a 52-week range between $4.39 and $9.00.

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF - Get Free Report) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 1,691,000 shares, a decrease of 54.5% from the August 31st total of 3,719,900 shares. Based on an average trading volume of 27,300 shares, the days-to-cover ratio is presently 61.9 days. Based on an average trading volume of 27,300 shares, the days-to-cover ratio is presently 61.9 days.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley raised shares of Grupo Mexico to an "overweight" rating in a research note on Tuesday, July 15th. The Goldman Sachs Group downgraded Grupo Mexico from a "strong-buy" rating to a "hold" rating in a report on Wednesday, September 17th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Grupo Mexico presently has a consensus rating of "Hold".

Grupo Mexico Stock Up 2.0%

OTCMKTS:GMBXF traded up $0.17 during trading hours on Friday, hitting $8.72. 3,741 shares of the company were exchanged, compared to its average volume of 15,453. Grupo Mexico has a 52-week low of $4.39 and a 52-week high of $9.00. The company's 50 day moving average price is $7.06 and its 200-day moving average price is $6.01.

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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