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

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped up before the market opened on Friday . The stock had previously closed at $16.8682, but opened at $17.86. Sims Metal Management shares last traded at $17.86, with a volume of 282 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SMSMY shares. Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research 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. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Sims Metal Management has an average rating of “Hold”.

Sims Metal Management Stock Up 5.9%

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.95. The business has a 50-day moving average price of $17.88 and a 200-day moving average price of $16.47.

Sims Metal Management Company Profile

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.