Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up - Time to Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $26.23, but opened at $28.00. Grupo Simec shares last traded at $27.00, with a volume of 342 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Grupo Simec from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th.

Grupo Simec Stock Performance

The stock has a 50 day moving average price of $26.53. The stock has a market capitalization of $4.11 billion, a PE ratio of 7.90 and a beta of 0.29.

Institutional Investors Weigh In On Grupo Simec

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. acquired a new stake in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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.

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.