Sims Metal Management (OTCMKTS:SMSMY) Stock Falls 4.9% – Here’s Why

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price dropped 4.9% during trading on Friday. The company traded as low as $15.80 and last traded at $15.80. 500 shares were traded during trading, a decline of 88% from the average session volume of 4,288 shares. The stock had previously closed at $16.6150.

Analysts Set New Price Targets

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

Sims Metal Management Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.00 and a current ratio of 1.53. The business’s 50 day moving average is $17.53 and its two-hundred day moving average is $16.95.

About Sims Metal Management

Sims Metal Management, now known as Sims Limited, is a global metal recycling and resource recovery company. Its core business involves collecting, processing and supplying recycled ferrous and non-ferrous metals to steel mills, foundries and other industrial customers. The company handles materials such as steel, aluminum, copper and other recyclable metals sourced from businesses, manufacturers, demolition projects and end-of-life products.

Through its Sims Metal operations, the company provides scrap-metal collection, sorting, processing and recycling services.