Sims Metal Management (OTCMKTS:SMSMY) Shares Climb 9.1% – Here’s What Happened

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) shot up 9.1% on Monday. The stock traded as high as $17.46 and last traded at $17.46. 423 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 4,353 shares. The stock had previously closed at $16.01.

Analyst Ratings Changes

SMSMY has been the topic of several recent research reports. Zacks Research raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group upgraded Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold”.

Sims Metal Management Trading Up 0.7%

The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average is $17.61 and its 200 day moving average is $16.88.

Sims Metal Management Company Profile

Sims Metal Management, now known as Sims Limited, is a global metal recycling and resource recovery company. Its core business involves collecting, processing and supplying recycled ferrous and non-ferrous metals to steel mills, foundries and other industrial customers. The company handles materials such as steel, aluminum, copper and other recyclable metals sourced from businesses, manufacturers, demolition projects and end-of-life products.

Through its Sims Metal operations, the company provides scrap-metal collection, sorting, processing and recycling services.