Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Up – Time to Buy?

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped up before the market opened on Tuesday . The stock had previously closed at $15.4075, but opened at $16.33. Sims Metal Management shares last traded at $16.0790, with a volume of 932 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SMSMY. Royal Bank Of Canada raised shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. The Goldman Sachs Group raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Sims Metal Management Trading Up 1.2%

The company has a 50 day moving average of $14.06 and a two-hundred day moving average of $13.01.

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.