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

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) shares saw unusually-high trading volume on Thursday . Approximately 1,383 shares changed hands during mid-day trading, an increase of 26% from the previous session’s volume of 1,101 shares.The stock last traded at $26.43 and had previously closed at $26.20.

Analysts Set New Price Targets

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

Grupo Simec Trading Up 2.7 %

The stock has a market cap of $4.18 billion, a P/E ratio of 8.03 and a beta of 0.31.

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

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.