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 Wednesday . The stock had previously closed at $19.8025, but opened at $18.00. Sims Metal Management shares last traded at $18.00, with a volume of 569 shares changing hands.

Analyst Upgrades and Downgrades

SMSMY has been the topic of a number of recent analyst reports. Jefferies Financial Group upgraded Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. Royal Bank Of Canada upgraded Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research 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. Finally, Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Sims Metal Management Stock Down 1.6%

The firm’s fifty day moving average price is $17.46 and its 200 day moving average price is $15.02.

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.