Sims Metal Management (OTCMKTS:SMSMY) Shares Down 6.7% – Time to Sell?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price fell 6.7% during mid-day trading on Thursday. The stock traded as low as $14.5271 and last traded at $14.5271. 227 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 4,226 shares. The stock had previously closed at $15.57.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Jefferies Financial Group raised 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 research report on Monday, June 22nd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Sims Metal Management Price Performance

The business’s 50 day simple moving average is $17.27 and its 200-day simple moving average is $16.98. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.00 and a current ratio of 1.53.

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.