Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) Sees Large Increase in Short Interest

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 29,917 shares, a growth of 1,207.6% from the May 31st total of 2,288 shares. Based on an average trading volume of 359,346 shares, the days-to-cover ratio is presently 0.1 days.

Sumitomo Metal Mining Price Performance

Shares of OTCMKTS SMMYY traded up $0.21 during midday trading on Friday, reaching $11.91. The company’s stock had a trading volume of 175,202 shares, compared to its average volume of 179,945. Sumitomo Metal Mining has a fifty-two week low of $5.46 and a fifty-two week high of $20.51. The stock has a 50 day simple moving average of $14.58 and a 200-day simple moving average of $14.06.

Analyst Upgrades and Downgrades

Separately, Daiwa Securities Group raised shares of Sumitomo Metal Mining to a “strong-buy” rating in a research note on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Sumitomo Metal Mining Company Profile

Sumitomo Metal Mining Co, Ltd., headquartered in Tokyo, Japan, is a diversified metals and mining company with operations spanning exploration, extraction, smelting, refining and recycling. Tracing its roots to the historic Besshi Copper Mine under the Sumitomo umbrella, it was established as a standalone corporate entity in 1950. The company’s product portfolio includes copper, nickel, cobalt and gold, with a growing emphasis on battery‐grade nickel and cobalt sulfate for lithium‐ion cells used in electric vehicles and energy storage systems.

Key assets include the Niihama copper smelter and refinery in Ehime Prefecture, and a 20% interest in PT Vale Indonesia, operator of the Sorowako nickel mine on Sulawesi Island.