Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Up – Here’s Why

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $18.05, but opened at $19.52. Sims Metal Management shares last traded at $19.52, with a volume of 298 shares changing hands.

Wall Street Analysts Forecast Growth

SMSMY has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday. The Goldman Sachs Group upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada raised Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. Finally, Jefferies Financial Group raised Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Sims Metal Management Price Performance

The firm has a 50-day simple moving average of $16.92 and a 200-day simple moving average of $14.72.

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.