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

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $17.30, but opened at $18.30. Sims Metal Management shares last traded at $18.30, with a volume of 501 shares.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SMSMY shares. 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. Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Jefferies Financial Group raised Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Sims Metal Management has an average rating of “Hold”.

Sims Metal Management Trading Up 4.5%

The stock’s fifty day moving average is $18.01 and its two-hundred day moving average is $15.33.

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.