Sims Metal Management (OTCMKTS:SMSMY) Hits New 52-Week High – Time to Buy?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $21.35 and last traded at $20.65, with a volume of 1701 shares traded. The stock had previously closed at $20.64.

Wall Street Analysts Forecast Growth

SMSMY has been the subject of a number of research analyst reports. Royal Bank Of Canada raised shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. Zacks Research downgraded shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Sims Metal Management Trading Up 0.0%

The stock’s fifty day simple moving average is $15.87 and its 200 day simple moving average is $14.21.

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.