Grupo Simec (NYSEAMERICAN:SIM) Sees Large Volume Increase – Time to Buy?

Shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw strong trading volume on Monday . 2,574 shares were traded during trading, an increase of 119% from the previous session’s volume of 1,178 shares.The stock last traded at $25.84 and had previously closed at $26.73.

Wall Street Analysts Forecast Growth

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

Grupo Simec Stock Performance

The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 7.65 and a beta of 0.30.

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

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.