Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Up – Time to Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $24.30, but opened at $24.90. Grupo Simec shares last traded at $26.30, with a volume of 2,121 shares.

Wall Street Analyst Weigh In

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

Grupo Simec Stock Up 3.2 %

The firm has a market capitalization of $4.05 billion, a P/E ratio of 7.78 and a beta of 0.29.

Institutional Investors Weigh In On Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. acquired a new position in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. Hedge funds and other institutional investors own 0.17% of the company’s stock.

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.