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

Key Points

• Grupo Simec's shares experienced a notable gap up, opening at $28.00 after a previous close of $25.00, indicating increased trading activity.
• The company has a market capitalization of $4.29 billion and is engaged in manufacturing various steel products, serving both domestic and international markets.
• With a PE ratio of 14.38 and a low beta of 0.20, Grupo Simec reflects relatively stable stock performance compared to the market.

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $25.00, but opened at $28.00. Grupo Simec shares last traded at $27.91, with a volume of 614 shares trading hands.

Grupo Simec Stock Up 2.9%

The company has a market capitalization of $4.33 billion, a PE ratio of 14.49 and a beta of 0.20. The company's 50 day moving average is $27.60 and its two-hundred day moving average is $27.18.

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.