Sims Metal Management (OTCMKTS:SMSMY) Stock Price Up 9.4% – Should You Buy?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) rose 9.4% on Tuesday . The company traded as high as $15.3256 and last traded at $15.3256. Approximately 456 shares were traded during trading, a decline of 93% from the average daily volume of 6,977 shares. The stock had previously closed at $14.01.

Analyst Upgrades and Downgrades

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

Sims Metal Management Trading Down 4.7%

The company has a 50 day moving average of $14.20 and a 200-day moving average of $12.43.

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.