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

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped down before the market opened on Wednesday . The stock had previously closed at $17.55, but opened at $16.55. Sims Metal Management shares last traded at $16.55, with a volume of 471 shares changing hands.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SMSMY. Zacks Research upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Jefferies Financial Group raised Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Sims Metal Management Price Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.95. The stock’s 50 day moving average price is $17.81 and its 200-day moving average price is $16.53.

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.