Grupo Simec (NYSEAMERICAN:SIM) Trading 14.1% Higher – Here’s Why

Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM) shares traded up 14.1% during trading on Wednesday . The company traded as high as $31.06 and last traded at $29.6590. 7,349 shares were traded during mid-day trading, an increase of 807% from the average session volume of 810 shares. The stock had previously closed at $26.00.

Grupo Simec Price Performance

The company has a 50 day simple moving average of $28.79 and a 200-day simple moving average of $27.94. The stock has a market cap of $4.55 billion, a P/E ratio of 27.21 and a beta of 0.34.

Grupo Simec Company Profile

Grupo Simec (NYSE American: SIM) is a Mexico‐based producer and distributor of long steel products, serving construction, infrastructure, industrial and energy markets. The company’s core operations encompass the manufacture of merchant bar steel, including reinforcing bar (rebar), wire rod, merchant bars and structural shapes. In parallel, its service centers offer cutting, bending and other value‐added processing services to meet the precise specifications of fabricators and end users.

With multiple steel mills located throughout Mexico and an expanding footprint in the United States, Grupo Simec maintains a vertically integrated supply chain that spans raw‐material sourcing, steelmaking and downstream processing.