Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down – Here’s Why

Sims Metal Management Ltd. (OTCMKTS:SMSMY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $15.3256, but opened at $14.83. Sims Metal Management shares last traded at $14.83, with a volume of 597 shares.

Analyst Upgrades and Downgrades

SMSMY has been the subject of several analyst reports. The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada upgraded Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

Sims Metal Management Stock Performance

The company’s fifty day moving average is $14.18 and its 200-day moving average is $12.44.

Sims Metal Management Company Profile

Sims Metal Management, trading over-the-counter under the symbol SMSMY, is the global metal recycling division of Sims Limited. Established in the early 20th century, the company has grown into one of the world’s leading recyclers of ferrous and non-ferrous metals. It serves a diverse customer base, including steel mills, foundries, manufacturers and fabricators, by collecting, processing and trading scrap metal commodities.

The company’s core activities encompass the sourcing and processing of end-of-life metal products.