Grupo Simec (NYSEAMERICAN:SIM) Shares Down 6.1% – Time to Sell?

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM) traded down 6.1% during trading on Thursday . The stock traded as low as $25.78 and last traded at $25.78. 666 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 1,099 shares. The stock had previously closed at $27.45.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut 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 cap of $4.05 billion, a price-to-earnings ratio of 8.05 and a beta of 0.31.

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