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 Tuesday . The stock had previously closed at $22.15, but opened at $25.11. Grupo Simec shares last traded at $24.15, with a volume of 1,578 shares changing hands.

Wall Street Analyst Weigh In

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

Grupo Simec Stock Performance

The company has a market cap of $3.72 billion, a P/E ratio of 7.14 and a beta of 0.29.

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.