Sims Metal Management (OTCMKTS:SMSMY) Shares Up 9.1% – Still a Buy?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price rose 9.1% during trading on Monday. The company traded as high as $17.46 and last traded at $17.46. 423 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 4,353 shares. The stock had previously closed at $16.01.

Analyst Upgrades and Downgrades

SMSMY has been the topic of a number of research analyst reports. Jefferies Financial Group raised shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. Zacks Research raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Sims Metal Management presently has a consensus rating of “Hold”.

Sims Metal Management Price Performance

The company has a 50 day moving average of $17.61 and a 200 day moving average of $16.88. The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.20.

About Sims Metal Management

Sims Metal Management, now known as Sims Limited, is a global metal recycling and resource recovery company. Its core business involves collecting, processing and supplying recycled ferrous and non-ferrous metals to steel mills, foundries and other industrial customers. The company handles materials such as steel, aluminum, copper and other recyclable metals sourced from businesses, manufacturers, demolition projects and end-of-life products.

Through its Sims Metal operations, the company provides scrap-metal collection, sorting, processing and recycling services.