Grupo Simec (NYSEAMERICAN:SIM) Sees Strong Trading Volume – Still a Buy?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) saw strong trading volume on Friday . 893 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 1,094 shares.The stock last traded at $26.52 and had previously closed at $26.48.

Analysts Set New Price Targets

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 Trading Up 0.2 %

The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 7.85 and a beta of 0.31.

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