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

Shares of Grupo Simec, S.A. de C.V. (NYSEAMERICAN:SIM) gapped down before the market opened on Wednesday . The stock had previously closed at $30.71, but opened at $28.01. Grupo Simec shares last traded at $28.01, with a volume of 178 shares.

Grupo Simec Stock Down 8.8%

The firm has a fifty day simple moving average of $30.70 and a 200-day simple moving average of $29.72. The company has a market cap of $4.30 billion, a PE ratio of 59.60 and a beta of 0.30.

Grupo Simec (NYSEAMERICAN:SIM) last released its quarterly earnings results on Saturday, February 14th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter. Grupo Simec had a return on equity of 2.55% and a net margin of 5.01%.The firm had revenue of $442.30 million for the quarter.

Grupo Simec Company Profile

Grupo Simec (NYSE American: SIM) is a Mexico‐based producer and distributor of long steel products, serving construction, infrastructure, industrial and energy markets. The company’s core operations encompass the manufacture of merchant bar steel, including reinforcing bar (rebar), wire rod, merchant bars and structural shapes. In parallel, its service centers offer cutting, bending and other value‐added processing services to meet the precise specifications of fabricators and end users.

With multiple steel mills located throughout Mexico and an expanding footprint in the United States, Grupo Simec maintains a vertically integrated supply chain that spans raw‐material sourcing, steelmaking and downstream processing.