Sims Metal Management (OTCMKTS:SMSMY) Upgraded by Jefferies Financial Group to Hold Rating

Sims Metal Management (OTCMKTS:SMSMY) was upgraded by stock analysts at Jefferies Financial Group from a “moderate sell” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Zacks Research downgraded Sims Metal Management from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada raised Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Sims Metal Management Stock Performance

OTCMKTS SMSMY opened at $20.22 on Wednesday. Sims Metal Management has a one year low of $8.16 and a one year high of $21.35. The stock’s 50 day simple moving average is $16.34 and its 200 day simple moving average is $14.42.

About Sims Metal Management

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.