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

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $24.51, but opened at $26.59. Grupo Simec shares last traded at $25.76, with a volume of 259 shares traded.

Analysts Set New Price Targets

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

Grupo Simec Stock Performance

The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 7.51 and a beta of 0.29.

Hedge Funds Weigh In On Grupo Simec

A hedge fund recently bought a new stake in Grupo Simec stock. Banco BTG Pactual S.A. purchased a new stake in Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,899 shares of the basic materials company’s stock, valued at approximately $212,000. 0.17% of the stock is currently owned by institutional investors.

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.