Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down – Here’s Why

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $26.71, but opened at $26.06. Grupo Simec shares last traded at $26.06, with a volume of 702 shares traded.

Analyst Ratings Changes

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

Grupo Simec Stock Performance

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