Sims Metal Management (OTCMKTS:SMSMY) Trading 7.7% Higher – Here’s What Happened

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price traded up 7.7% on Wednesday . The company traded as high as $17.25 and last traded at $17.25. Approximately 234 shares traded hands during trading, a decline of 95% from the average daily volume of 4,791 shares. The stock had previously closed at $16.01.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SMSMY. Jefferies Financial Group upgraded Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Sims Metal Management Stock Performance

The company’s 50 day moving average price is $18.11 and its two-hundred day moving average price is $16.39. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 1.51.

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.