Grupo Simec (NYSEAMERICAN:SIM) Shares Down 6.1% – What’s Next?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM)’s share price dropped 6.1% during trading on Thursday . The company traded as low as $25.78 and last traded at $25.78. Approximately 666 shares were traded during trading, a decline of 39% from the average daily volume of 1,099 shares. The stock had previously closed at $27.45.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut 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 company has a market capitalization of $4.05 billion, a P/E ratio of 8.05 and a beta of 0.31.

Grupo Simec (NYSEAMERICAN:SIM) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $1.00 earnings per share for the quarter. The business had revenue of $452.15 million for 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.