The stock of Grupo Simec SAB de CV (ADR) (NYSEMKT:SIM) hit a new 52-week high and has $14.53 target or 39.00% above today’s $10.45 share price. The 5 months bullish chart indicates low risk for the $1.69B company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $14.53 price target is reached, the company will be worth $659.10 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 29,412 shares traded hands or 198.39% up from the average. Grupo Simec SAB de CV (ADR) (NYSEMKT:SIM) has risen 36.56% since March 14, 2016 and is uptrending. It has outperformed by 30.95% the S&P500.
Analysts await Grupo Simec SAB de CV (ADR) (NYSEMKT:SIM) to report earnings on November, 3. They expect $0.17 EPS, up 254.55% or $0.28 from last year’s $-0.11 per share. SIM’s profit will be $27.49M for 15.37 P/E if the $0.17 EPS becomes a reality. After $0.61 actual EPS reported by Grupo Simec SAB de CV (ADR) for the previous quarter, Wall Street now forecasts -72.13% negative EPS growth.
According to Zacks Investment Research, “Grupo Simec, S.A, de C.V. is the leading mini-mill steel producer in Mexico and manufactures a broad range of non-flat structural steel products and is also among Mexico’s lowest cost producers of extruded aluminum products.”
More notable recent Grupo Simec SAB de CV (ADR) (NYSEMKT:SIM) news were published by: Marketwatch.com which released: “Grupo Simec SAB de CV ADR” on July 16, 2010, also Investorplace.com with their article: “3 Metals & Mining Stocks to Buy Now” published on September 05, 2016, Fool.com published: “3 Value Stocks Near 52-Week Lows Worth Buying” on February 06, 2015. More interesting news about Grupo Simec SAB de CV (ADR) (NYSEMKT:SIM) were released by: Investorplace.com and their article: “8 Metals & Mining Stocks to Buy Now” published on May 09, 2016 as well as Investorplace.com‘s news article titled: “11 Metals & Mining Stocks to Buy Now” with publication date: August 29, 2016.
SIM Company Profile
Grupo Simec, S.A.B. de C.V., incorporated on August 22, 1990, is a manufacturer, processor and distributor of special bar quality (SBQ) steel and structural steel products with production and commercial activities in the United States, Mexico and Canada. The Firm operates through two divisions Mexican and USA. The Mexican segment includes the plants in Mexicali, Guadalajara, Tlaxcala and San Luis Potosi. The USA segment includes approximately seven Republic Steel, Inc. (Republic) plants of which over six are located in the United States (distributed in the states of Ohio, Indiana and New York) and approximately one in Canada (Ontario).
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