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

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM)’s share price gapped up prior to trading 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.

Analyst Ratings Changes

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

Grupo Simec Price Performance

The company has a market cap of $4.31 billion, a P/E ratio of 8.97 and a beta of 0.29.

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

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.