Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Up – Still a Buy?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped up prior to trading on Wednesday . The stock had previously closed at $18.3770, but opened at $20.00. Sims Metal Management shares last traded at $20.00, with a volume of 2,434 shares changing hands.

Analysts Set New Price Targets

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

Sims Metal Management Stock Up 8.8%

The stock’s fifty day simple moving average is $14.84 and its 200-day simple moving average is $13.60.

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.