Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) Sees Large Drop in Short Interest
by Tristan Rich · The Markets DailyGrupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF – Get Free Report) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 797,930 shares, a decline of 51.1% from the August 31st total of 1,630,609 shares. Based on an average trading volume of 83,202 shares, the short-interest ratio is currently 9.6 days. Approximately 0.0% of the company’s shares are short sold.
Grupo Mexico Trading Down 5.1%
GMBXF traded down $0.63 during trading on Thursday, hitting $11.82. 2,186 shares of the stock traded hands, compared to its average volume of 30,552. Grupo Mexico has a 12-month low of $6.96 and a 12-month high of $14.29. The firm has a 50-day moving average of $12.93 and a 200 day moving average of $12.06.
Wall Street Analyst Weigh In
Separately, Scotiabank restated a “sector perform” rating on shares of Grupo Mexico in a research report on Monday, June 15th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.
View Our Latest Stock Report on Grupo Mexico
About Grupo Mexico
Grupo México is a diversified Mexican company with core operations in mining, transportation and infrastructure. Its mining business is conducted primarily through Southern Copper Corporation, a major integrated copper producer with mining, smelting and refining activities in Mexico and Peru. The company produces copper and also recovers byproducts such as molybdenum, zinc, silver and sulfuric acid.
Grupo México’s principal mining assets include the Buenavista del Cobre operation in Sonora, Mexico, and the Cuajone and Toquepala mines in Peru.