Grupo Simec (NYSEAMERICAN:SIM) Sees Strong Trading Volume – Still a Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw an uptick in trading volume on Tuesday . 1,895 shares were traded during mid-day trading, an increase of 30% from the previous session’s volume of 1,456 shares.The stock last traded at $26.51 and had previously closed at $26.26.

Analysts Set New Price Targets

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

Grupo Simec Stock Up 3.5 %

The company has a market cap of $4.11 billion, a P/E ratio of 7.91 and a beta of 0.30.

Grupo Simec (NYSEAMERICAN:SIM) last issued 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 during 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.