Sims Metal Management (OTCMKTS:SMSMY) Hits New 52-Week High – What’s Next?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $17.00 and last traded at $16.95, with a volume of 1645 shares changing hands. The stock had previously closed at $16.0250.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SMSMY shares. The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Royal Bank Of Canada upgraded shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. Finally, Zacks Research downgraded shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The company’s 50-day moving average price is $14.41 and its 200-day moving average price is $13.32.

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.