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 Wednesday . The stock had previously closed at $19.8025, but opened at $18.00. Sims Metal Management shares last traded at $18.00, with a volume of 569 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SMSMY shares. Zacks Research raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Jefferies Financial Group upgraded Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, June 17th. The Goldman Sachs Group raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, 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. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Sims Metal Management presently has a consensus rating of “Hold”.

Sims Metal Management Trading Down 9.1%

The business’s fifty day simple moving average is $17.33 and its 200 day simple moving average is $14.94.

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.