Short Interest in Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) Grows By 121.3%

Key Points

• Short Interest Increase: Grupo Mexico saw a significant increase in short interest, rising by 121.3% in August to a total of 3,719,900 shares as of August 31st.
• Stock Performance: The company's stock price increased to $7.34, reaching its 52-week high, with an average trading volume of 12,914 shares.
• Analyst Ratings: Morgan Stanley upgraded Grupo Mexico to an "overweight" rating, contributing to a consensus rating of "Moderate Buy" among analysts.

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF - Get Free Report) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 3,719,900 shares, an increase of 121.3% from the August 15th total of 1,681,300 shares. Based on an average trading volume of 24,200 shares, the short-interest ratio is presently 153.7 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 24,200 shares, the short-interest ratio is presently 153.7 days.

Grupo Mexico Stock Performance

Shares of GMBXF traded down $0.06 during midday trading on Thursday, hitting $7.30. The stock had a trading volume of 6,098 shares, compared to its average volume of 13,911. The business has a 50-day simple moving average of $6.65 and a two-hundred day simple moving average of $5.78. Grupo Mexico has a fifty-two week low of $4.39 and a fifty-two week high of $7.56.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley upgraded shares of Grupo Mexico to an "overweight" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

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.