Sumitomo Metal Mining (OTCMKTS:SMMYY) Shares Up 0.5% – Time to Buy?

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) shares shot up 0.5% during mid-day trading on Monday . The stock traded as high as $8.34 and last traded at $8.26. 44,013 shares were traded during trading, a decline of 39% from the average session volume of 71,825 shares. The stock had previously closed at $8.22.

Analysts Set New Price Targets

SMMYY has been the topic of a number of research reports. The Goldman Sachs Group raised shares of Sumitomo Metal Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Jefferies Financial Group upgraded Sumitomo Metal Mining from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Sumitomo Metal Mining Stock Performance

The business’s 50 day moving average price is $8.15 and its 200-day moving average price is $6.88.

About Sumitomo Metal Mining

Sumitomo Metal Mining Co, Ltd., together with its subsidiaries, engages in mining, smelting, and refining non-ferrous metals in Japan and internationally. It operates through Mineral Resources, Smelting & Refining, and Materials segments. The company provides metal products, including copper, nickel/cobalt, gold/precious metal, and others; battery materials, such as nickel hydroxides, lithium nickel-cobalt-aluminum oxides, and lithium nickel manganese cobalt oxide; and crystal materials, including lithium tantalates/lithium niobates, optical isolators, faraday rotators, and substitute gallium gadolinium garnet.