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

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped down before the market opened on Tuesday . The stock had previously closed at $20.64, but opened at $19.69. Sims Metal Management shares last traded at $20.65, with a volume of 1,006 shares changing hands.

Analyst Ratings Changes

A number of analysts have issued reports on SMSMY shares. Jefferies Financial Group raised Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research report on Wednesday. Royal Bank Of Canada raised Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. Zacks Research lowered 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 Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold”.

Sims Metal Management Price Performance

The business has a 50-day simple moving average of $16.34 and a 200-day simple moving average of $14.42.

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.