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Grupo Mexico (OTC:GMBXF) Stock, Option Chain

Grupo Mexico SAB de CV is a holding company that operates in the mining-metallurgic industry, the exploration, exploitation, and benefit of metallic and non-metallic ores, multimodal freight railroad service, and infrastructure development. The majority of the group's revenue is generated by the mining division, through its subsidiary AMC. The company has 14 mines and exploration projects in Mexico, Peru, the United States of America, Chile, Ecuador, and Argentina, and its products include copper, molybdenum, silver, zinc, gold, and lead. The company also has a transportation division comprised of three large railroad companies through its subsidiary FM Rail Holding. Together, they form the largest railroad operator in Mexico, both in terms of coverage and fleet size.

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Citigroup, Inc (NYSE: C) stock is trading lower after it disclosed plans to pursue an initial public offering (IPO) of its consumer, small business, and middle-market banking 

What&#39;s Going On With Citigroup Stock Wednesday

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Unexpected Countries Could Rise As Latin America&#39;s New Mining Champions

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China Slowdown Muddies Mining Waters; Deutsche Bank Still Positive On The Sector

GRUPO MEXICO SA B by Grupo Mexico S.A.B. de C.V.

Grupo Mexico SAB de CV

Citigroup, Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>) stock is trading lower after it disclosed plans to pursue an initial public offering (IPO) of its consumer, small business, and middle-market banking&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/pressreleases/23/05/b32549932/citi-to-pursue-initial-public-offering-of-its-consumer-small-business-and-middle-market-banking-op" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">operations in Mexico</a>.
The IPO follows the planned separation of its leading institutional business that will remain part of Citi. As previously disclosed, Citi had been pursuing a dual process to exit the businesses, including preparation for a possible IPO.
The businesses will retain the Banco Nacional de M&eacute;xico (&quot;Banamex&quot;) brand. Banamex will continue offering a full suite of financial services to consumers and small and mid-market business owners through an extensive distribution network of ~1,300 branches, ~9,000 ATMs, ~12.7 million retail banking clients, ~6,600 commercial banking clients, and ~10 million pension fund customers.
Banamex will retain credit cards, retail banking, consumer loans, residential mortgage lending, insurance, annuities, pension assets management, deposits, and commercial banking products.&nbsp;
Citi expects the separation of the businesses to be over by the second half of 2024 and that the IPO will occur in 2025.
The businesses will continue to be reported as part of Citi&#39;s continuing operations until ownership falls below a 50% voting interest. In May, Citi neared a $7 billion sale of the Banamex&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/23/05/32323314/ctigroup-nears-7b-sale-of-banamex-unit-to-grupo-mexico" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">unit to</a>&nbsp;Grupo Mexico S.A.B. De CV&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/gmbxf#OTC">GMBXF</a>).&nbsp;
Banamex&#39;s IPO plan marks the end of a more-than-year-long effort to sell the unit, Financial Times&nbsp;<a class="editor-rtfLink" href="https://www.ft.com/content/fcbf0737-acf8-470c-9e9c-d8eae4a8e996" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">reports</a>. Citi acquired Banamex for $12.5 billion in 2001.
Analysts and bankers blamed poor management and inflated costs, including limitations from U.S. regulatory requirements, for Banamex&#39;s fall from the second-largest bank to the fourth after struggling to compete in a market dominated by other foreign lenders.
Citi has invested $2.5 billion to enhance Banamex&#39;s digital and mobile banking capabilities. It shared plans to resume a modest level of share buybacks this quarter and will continue to assess buybacks on a quarter-by-quarter basis.
In April, Citi reported first-quarter FY23 net revenue growth of 12% year-over-year to $21.45 billion. The upbeat results followed analyst&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/23/04/31828369/these-analysts-boost-price-targets-on-citigroup-after-better-than-expected-q1-results" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">price target boosts</a>.
Price Action:&nbsp;C shares are trading lower by 3.27% at $44.41 on the last check Wednesday.

What's Going On With Citigroup Stock Wednesday

Citigroup downgrades Grupo Mexico (OTC:<a class="ticker" href="/stock/GMBXF#OTC">GMBXF</a>) from Buy to Neutral.

Citigroup Downgrades Grupo Mexico to Neutral

After a two-year-long rut, the Latin American mining sector is finally staging a rebound. In a recent <a href="http://www.mining.com/peru-brazil-to-emerge-latin-americas-new-mining-gems/">article</a>, Mining.com&rsquo;s Cecilia Jamasmie shared an interesting view regarding who the winners of this recovery will be, and it&rsquo;s not the usual suspects but two rather embattled economies in the region: Brazil and Peru.
According to BMI Research, neither the countries&rsquo; political instability nor the operational risks related to it are enough to offset the opportunities provided by Peru&rsquo;s large project pipeline in copper, or Brazil&rsquo;s competitive iron ore industry. Having said this, the firm noted that the long-standing mining leader in the region, Chile, will maintain its spot as the front-runner, especially in the copper segment.
<a href="https://www.benzinga.com/files/u82070/brazil-peru-latam-mining.jpg"><img alt="" src="https://www.benzinga.com/files/u82070/brazil-peru-latam-mining.jpg" /></a>
Finally, the report pointed out that Argentina&rsquo;s new pro-mining president should help it regain some of the ground lost during the previous decade, as a more socially and environmentally-concerned government ruled the country. However, the road to recovery will not be an easy one, the experts added.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/general/education/16/09/8486947/how-inverse-etfs-can-help-you-play-fed-rate-hike-decisions">How Inverse ETFs Can Help You Play Fed Rate Hike Decisions</a></bzrelatedlink>
&ldquo;Despite holding rich deposits of copper, gold, silver, zinc and lithium, local regulations are tough &mdash; seven of the country&#39;s 23 provinces currently ban open-pit mining altogether due to environmental concerns,&rdquo; Jamasmie article explicated.
<h3>Not For The Risk-Averse</h3>
Having said this, BMI&rsquo;s report went on to warn investors about some of the risks, which include illegal gold mining, a turbulent labor market, underdeveloped infrastructure and tightening environmental regulations. The risk heightens in Venezuela and Central America, the analysts added, while Chile, Colombia, Mexico and Brazil offer more developed infrastructure, and thus, more limited risk.
<h3>Some Companies To Look At</h3>
A few mining companies that operate in Latin America include:
<ul>
<li>
		BHP Billiton Limited (ADR) (NYSE: <a class="ticker" href="/stock/bhp#NYSE">BHP</a>).</li>
<li>
		Vale SA (ADR) (NYSE: <a class="ticker" href="/stock/vale#NYSE">VALE</a>).</li>
<li>
		Companhia Siderurgica Nacional (ADR) (NYSE: <a class="ticker" href="/stock/sid#NYSE">SID</a>).</li>
<li>
		Ternium SA (ADR) (NYSE: <a class="ticker" href="/stock/tx#NYSE">TX</a>).</li>
<li>
		Rio Tinto plc (ADR) (NYSE: <a class="ticker" href="/stock/rio#NYSE">RIO</a>).</li>
<li>
		Antofagasta plc (ADR) (OTC: <a class="ticker" href="/stock/anfgy#OTC">ANFGY</a>).</li>
<li>
		Usinas Siderurgics d Mns Grs SA Usms-ADR (OTC: <a class="ticker" href="/stock/usnzy#OTC">USNZY</a>).</li>
<li>
		Anglo American plc (ADR) (OTC: <a class="ticker" href="/stock/ngloy#OTC">NGLOY</a>).</li>
<li>
		Grupo Mexico S.A. de C.V. (USA) (OTC: <a class="ticker" href="/stock/gmbxf#OTC">GMBXF</a>).</li>
<li>
		Paranapanema SA (ADR) (OTC: <a class="ticker" href="/stock/pnppy#OTC">PNPPY</a>).</li>
<li>
		Barrick Gold Corporation (USA) (NYSE: <a class="ticker" href="/stock/abx#NYSE">ABX</a>).</li>
</ul>
<a href="https://pro.benzinga.com/?utm_source=Benzinga&amp;utm_medium=Benzinga%20Top%20of%20Article&amp;am%22%3">Full ratings data available on Benzinga Pro.</a>
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	Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above, nor was this article conceived as investment advice.

Unexpected Countries Could Rise As Latin America's New Mining Champions

With China&#39;s economic slowdown creating muddy waters for metals and mining stocks, a Deutsche Bank analyst remains generally positive on the group.

	&quot;The focus is shifting to more company specific stories&quot; from an emphasis on sector performance, analyst Jorge Beristain said in a note.

	China last week posted an 8.8 percent gain in industrial production, although housing sales fell 10 percent.

	Economists polled by <a href="http://www.bloomberg.com/news/2014-07-01/china-manufacturing-gauge-rises-to-six-month-high.html">Bloomberg </a>recently forecast that China&#39;s economy will grow 7.4 percent in 2014, the slowest rate in 24 years.

	China&#39;s imports of metallurgical coal, used in steelmaking, are projected to drop by more than <a href="http://hamptonroads.com/2014/07/port-sees-coal-exports-drop-first-half-year">20 percent</a> from last year, according to the Virginia Pilot newspaper.

	Beristan prefers industrial to precious metals and expects gold to give back recent gains as the stock market, interest rates and the dollar move higher.

	Because of lower exposure to the construction industry, Beristan favors base metals like copper, nickel and zinc over industrial commodities like coal and iron ore.

	Among industrial metals, Beristan maintains Buy ratings on five companies, citing their cash flow outlook based on various on company specific initiatives and developments &quot;and/or particular end market exposures.&quot;

	The group includes Cliffs Natural Resources (NYSE: <a class="ticker" href="/stock/clf#NYSE">CLF</a>) Freeport-McMoRan Copper &amp; Gold (NYSE: <a class="ticker" href="/stock/fcx#NYSE">FCX</a>) Grupo Mexico S.A. de C.V. (OTC: <a class="ticker" href="/stock/gmbxf#OTC">GMBXF</a>)

	Thompson Creek Metals (NYSE: <a class="ticker" href="/stock/tc#NYSE">TC</a>) and Vale SA (NYSE: <a class="ticker" href="/stock/vale#NYSE">VALE</a>)

	Among coal miners, Beristan&#39;s only Buy is CONSOL Energy (NYSE: <a class="ticker" href="/stock/cnx#NYSE">CNX</a>) and among precious metals, Barrick Gold (NYSE: <a class="ticker" href="/stock/abx#NYSE">ABX</a>).

	Downgraded from Buy to Hold by Beristan were Coeur Mining (NYSE: <a class="ticker" href="/stock/cde#NYSE">CDE</a>) and Peabody Peabody Energy (NYSE: <a class="ticker" href="/stock/btu#NYSE">BTU</a>).

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