Sims Metal Management (OTCMKTS:SMSMY) Share Price Passes Above 50-Day Moving Average – Time to Sell?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $17.82 and traded as high as $17.90. Sims Metal Management shares last traded at $17.90, with a volume of 1,716 shares traded.

Analysts Set New Price Targets

SMSMY has been the topic of several research analyst reports. Royal Bank Of Canada upgraded Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. Zacks Research raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Jefferies Financial Group upgraded Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Sims Metal Management presently has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The stock has a 50 day moving average price of $17.82 and a two-hundred day moving average price of $15.22.

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.