Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down – Should You Sell?

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped down before the market opened on Monday . The stock had previously closed at $19.50, but opened at $18.60. Sims Metal Management shares last traded at $18.60, with a volume of 468 shares.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SMSMY shares. Zacks Research lowered Sims Metal Management from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Royal Bank Of Canada upgraded shares of 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 given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Sims Metal Management currently has an average rating of “Hold”.

Sims Metal Management Stock Up 0.6%

The stock’s 50 day moving average is $15.44 and its 200 day moving average is $14.00.

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.