Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) Sees Significant Increase in Short Interest

Grupo Mexico, S.A.B. de C.V. (OTCMKTS:GMBXF) was the target of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 6,375,447 shares, a growth of 94.5% from the January 15th total of 3,278,419 shares. Based on an average daily trading volume, of 186,070 shares, the days-to-cover ratio is currently 34.3 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 186,070 shares, the days-to-cover ratio is currently 34.3 days.

Grupo Mexico Price Performance

OTCMKTS:GMBXF opened at $11.80 on Friday. Grupo Mexico has a 12-month low of $4.39 and a 12-month high of $12.55. The firm has a 50-day moving average price of $10.45 and a 200 day moving average price of $8.64.

Wall Street Analyst Weigh In

Separately, HSBC reiterated a “hold” rating on shares of Grupo Mexico in a report on Friday, October 17th. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Grupo Mexico currently has a consensus rating of “Hold”.

Grupo Mexico Company Profile

Grupo México is a diversified Mexican industrial conglomerate with principal operations in mining, transportation and infrastructure. The company’s core business is the extraction and processing of base and precious metals, while complementary divisions provide freight rail and logistics services across Mexico. Grupo México operates as a vertically integrated enterprise that combines mineral production with the transport and logistics capabilities needed to move bulk commodities to market.

In mining, Grupo México is best known as the parent of Southern Copper Corporation and as one of the world’s larger copper producers.