Grupo Simec (NYSEAMERICAN:SIM) Shares Gap Down - Here's What Happened

Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $25.85, but opened at $24.00. Grupo Simec shares last traded at $25.00, with a volume of 738 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Grupo Simec from a "hold" rating to a "buy" rating in a research note on Thursday.

Grupo Simec Stock Performance

The company has a market capitalization of $4.16 billion, a P/E ratio of 7.99 and a beta of 0.29.

Hedge Funds Weigh In On Grupo Simec

An institutional investor recently bought a new position in Grupo Simec stock. Banco BTG Pactual S.A. bought a new position in shares of Grupo Simec, S.A.B. de C.V. (NYSEAMERICAN:SIM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 7,899 shares of the basic materials company's stock, valued at approximately $212,000. Institutional investors and hedge funds own 0.17% of the company's stock.

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.