Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up – Here’s What Happened

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares gapped up prior to trading on Wednesday . The stock had previously closed at $27.10, but opened at $27.96. Grupo Simec shares last traded at $27.96, with a volume of 204 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Grupo Simec from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Grupo Simec Trading Up 8.2 %

The stock has a market capitalization of $4.54 billion, a P/E ratio of 9.75 and a beta of 0.29.

Grupo Simec (NYSEAMERICAN:SIM) last posted its earnings results on Monday, July 22nd. The basic materials company reported $1.39 EPS for the quarter. Grupo Simec had a net margin of 24.90% and a return on equity of 16.68%. The firm had revenue of $487.42 million for the quarter.

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.