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

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $27.15, but opened at $25.50. Grupo Simec shares last traded at $28.04, with a volume of 1,254 shares traded.

Wall Street Analyst Weigh In

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

Grupo Simec Stock Down 0.4 %

The stock has a market cap of $4.11 billion, a PE ratio of 7.89 and a beta of 0.31.

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. Grupo Simec had a net margin of 29.44% and a return on equity of 18.62%. The business had revenue of $452.15 million during the quarter.

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.