Sims Metal Management (OTCMKTS:SMSMY) Trading 9.5% Higher – Still a Buy?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price was up 9.5% during trading on Friday . The company traded as high as $19.14 and last traded at $19.10. Approximately 2,481 shares traded hands during trading, a decline of 58% from the average daily volume of 5,920 shares. The stock had previously closed at $17.45.

Analyst Ratings Changes

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

Sims Metal Management Stock Performance

The firm has a 50 day simple moving average of $14.65 and a two-hundred day simple moving average of $13.47.

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.