Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) Short Interest Update

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 2,288 shares, a drop of 93.0% from the May 14th total of 32,899 shares. Based on an average trading volume of 226,941 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Ratings Changes

Separately, Daiwa Securities Group raised shares of Sumitomo Metal Mining to a “strong-buy” rating in a research report on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Sumitomo Metal Mining Price Performance

Shares of SMMYY traded up $0.10 during trading hours on Thursday, hitting $12.09. The company had a trading volume of 26,280 shares, compared to its average volume of 128,331. The business has a fifty day moving average of $15.12 and a 200-day moving average of $13.66. Sumitomo Metal Mining has a 12 month low of $5.46 and a 12 month high of $20.51.

Sumitomo Metal Mining Company Profile

Sumitomo Metal Mining Co, Ltd., headquartered in Tokyo, Japan, is a diversified metals and mining company with operations spanning exploration, extraction, smelting, refining and recycling. Tracing its roots to the historic Besshi Copper Mine under the Sumitomo umbrella, it was established as a standalone corporate entity in 1950. The company’s product portfolio includes copper, nickel, cobalt and gold, with a growing emphasis on battery?grade nickel and cobalt sulfate for lithium?ion cells used in electric vehicles and energy storage systems.

Key assets include the Niihama copper smelter and refinery in Ehime Prefecture, and a 20% interest in PT Vale Indonesia, operator of the Sorowako nickel mine on Sulawesi Island.