Grupo Simec (NYSEAMERICAN:SIM) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Grupo Simec experienced a significant increase in trading volume, with approximately 1,708 shares traded, reflecting a 141% rise from the prior session.
• The stock price of Grupo Simec decreased to $27.98 from a previous close of $28.70.
• Wall Street Zen downgraded Grupo Simec's rating from "buy" to "hold" in a recent research report.

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,708 shares changed hands during mid-day trading, an increase of 141% from the previous session's volume of 710 shares.The stock last traded at $27.98 and had previously closed at $28.70.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Grupo Simec from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th.

Grupo Simec Trading Up 0.5%

The company has a market cap of $4.25 billion, a price-to-earnings ratio of 14.24 and a beta of 0.16. The firm's 50 day moving average price is $27.60.

About Grupo Simec

Grupo Simec, SAB. de C.V. manufactures, processes, and distributes special bar quality (SBQ) steel and steel alloys products in Mexico, the United States, Brazil, Canada, Latin America, and internationally. The company produces I-beams, channels, structural and commercial angles, hot rolled bars, flat bars, rebars, cold-finished bars, electro-welded wire mesh and mesh panels, and wire rods, as well as semi-finished tube rounds and other semi-finished trade products.