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Cemex SAB de CV ADR (NYSE:CX), a $12.1 billion construction materials company, has reached a 52-week high, with its stock price climbing to $8.48. According to InvestingPro analysis, the stock is currently showing overbought signals. This milestone reflects a significant upward trend for the company, which has seen its stock value increase by 34.95% over the past year, with an impressive year-to-date return of 50.11%. The surge in stock price underscores strong investor confidence and positive market sentiment surrounding the company’s performance and future prospects. InvestingPro subscribers can access 12 additional technical indicators and a comprehensive Pro Research Report to make more informed investment decisions. As Cemex continues to navigate the market dynamics, this new 52-week high marks a notable achievement in its financial journey, with InvestingPro data suggesting the stock remains slightly undervalued despite the recent rally.
In other recent news, Cemex has successfully completed a $1 billion subordinated perpetual notes offering. This transaction, finalized recently, was targeted at qualified institutional buyers and non-U.S. persons, following specific regulatory guidelines. In addition, Cemex announced plans to distribute a cash dividend totaling $130 million, as approved during its Ordinary General Shareholders’ Meeting. The dividend will be dispensed in four equal installments, with the first payment scheduled for mid-June 2025. Shareholders holding Cemex Ordinary Participation Certificates and American Depositary Shares will be eligible for these payments.
Furthermore, BofA Securities has raised its price target for Cemex to $8.00, up from a previous target of $7.30, while maintaining a Neutral rating. This adjustment is attributed to a lower cost of capital in BofA’s valuation model. These developments provide investors with key insights into Cemex’s recent financial activities and strategic decisions.
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