Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up – Here’s What Happened

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) gapped up before the market opened on Wednesday . The stock had previously closed at $27.10, but opened at $27.96. Grupo Simec shares last traded at $27.96, with a volume of 204 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Grupo Simec from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 16th.

Grupo Simec Stock Performance

The stock has a market cap of $4.31 billion, a PE ratio of 8.97 and a beta of 0.29.

Grupo Simec (NYSEAMERICAN:SIM) last released its earnings results on Monday, July 22nd. The basic materials company reported $1.39 EPS for the quarter. The business had revenue of $487.42 million for the quarter. Grupo Simec had a net margin of 24.90% and a return on equity of 16.68%.

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.