Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up - Still a Buy?

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $27.79, but opened at $29.00. Grupo Simec shares last traded at $28.03, with a volume of 100 shares changing hands.

Analyst Upgrades and Downgrades

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

Grupo Simec Stock Performance

The stock's 50-day moving average is $27.51. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of 7.78 and a beta of 0.15.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. purchased a new stake in Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 7,899 shares of the basic materials company's stock, valued at approximately $212,000. 0.17% of the stock is owned by hedge funds and other institutional investors.

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.