Grupo Simec (NYSEAMERICAN:SIM) Sees Unusually-High Trading Volume – Should You Buy?

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw strong trading volume on Monday . 2,574 shares traded hands during mid-day trading, an increase of 119% from the previous session’s volume of 1,178 shares.The stock last traded at $25.84 and had previously closed at $26.73.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Grupo Simec from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 8th.

Grupo Simec Stock Down 5.4 %

The stock has a market capitalization of $3.85 billion, a P/E ratio of 7.64 and a beta of 0.30.

Grupo Simec (NYSEAMERICAN:SIM) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter. Grupo Simec had a net margin of 29.44% and a return on equity of 18.62%. The business had revenue of $452.15 million for the quarter.

About Grupo Simec

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.