Sims Metal Management (OTCMKTS:SMSMY) Hits New 12-Month High – Here’s What Happened

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $17.00 and last traded at $16.95, with a volume of 1645 shares traded. The stock had previously closed at $16.0250.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SMSMY shares. The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada upgraded shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. Finally, Zacks Research cut shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Sims Metal Management Trading Down 0.1%

The stock’s 50-day moving average is $14.57 and its 200-day moving average is $13.42.

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.