Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down - Here's What Happened

Key Points

• Grupo Simec's share price dropped significantly from a previous close of $28.70 to open at $27.45, reflecting a 3.5% decline in stock value.
• Wall Street Zen has downgraded Grupo Simec's stock rating from "buy" to "hold" as noted in a recent research note.
• The company's market capitalization stands at $4.26 billion with a price-to-earnings ratio of 14.28 and a low beta of 0.16, indicating lower volatility.

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $28.70, but opened at $27.45. Grupo Simec shares last traded at $27.70, with a volume of 1,708 shares trading hands.

Wall Street Analysts Forecast Growth

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

Grupo Simec Stock Performance

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

Grupo Simec Company Profile

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.