Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Up – Should You Buy?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $15.4075, but opened at $16.33. Sims Metal Management shares last traded at $16.0790, with a volume of 932 shares changing hands.

Analyst Upgrades and Downgrades

SMSMY has been the topic of several recent analyst reports. Royal Bank Of Canada raised Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Sims Metal Management Price Performance

The business’s fifty day moving average price is $14.04 and its 200 day moving average price is $12.87.

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.