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

Sims Metal Management Ltd. (OTCMKTS:SMSMY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $16.0250, but opened at $17.50. Sims Metal Management shares last traded at $17.75, with a volume of 1,018 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. The Goldman Sachs Group upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada upgraded Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. Finally, Zacks Research downgraded Sims Metal Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Sims Metal Management Trading Up 2.9%

The stock has a fifty day moving average of $14.65 and a two-hundred day moving average of $13.47.

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.