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

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped down before the market opened on Tuesday. The stock had previously closed at $16.4750, but opened at $15.43. Sims Metal Management shares last traded at $14.58, with a volume of 2,531 shares changing hands.

Analyst Upgrades and Downgrades

SMSMY has been the subject of a number of analyst reports. Jefferies Financial Group raised Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. Zacks Research raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note 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. According to MarketBeat, the company currently has a consensus rating of “Hold”.

Sims Metal Management Trading Down 5.9%

The company has a current ratio of 1.53, a quick ratio of 1.00 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average is $17.41 and its 200 day moving average is $16.96.

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.