Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) Short Interest Update

Key Points

• Short interest surged to 8,919,485 shares as of March 31 — a 3,569.2% increase from March 15 — leaving a days-to-cover ratio of 222.7 days (about 0.1% of shares sold short).
• Shares traded up 3.1% to $11.98 on Friday on below-average volume (7,230 vs. avg. 37,162), with a 50‑day/200‑day moving average of $11.36/$9.88 and a 52‑week range of $4.61–$12.76.
• Goldman Sachs upgraded the stock from "Neutral" to "Buy"; overall analyst coverage is two Buys and two Holds, yielding a consensus rating of "Moderate Buy."

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF - Get Free Report) was the target of a large growth in short interest in the month of March. As of March 31st, there was short interest totaling 8,919,485 shares, a growth of 3,569.2% from the March 15th total of 243,093 shares. Based on an average daily volume of 40,045 shares, the days-to-cover ratio is currently 222.7 days. Currently, 0.1% of the company's shares are sold short.

Grupo Mexico Stock Up 3.1%

OTCMKTS GMBXF traded up $0.36 during trading hours on Friday, hitting $11.98. The company had a trading volume of 7,230 shares, compared to its average volume of 37,162. The firm's 50 day moving average is $11.36 and its 200 day moving average is $9.88. Grupo Mexico has a fifty-two week low of $4.61 and a fifty-two week high of $12.76.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded shares of Grupo Mexico from a "neutral" rating to a "buy" rating in a report on Friday. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

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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