Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Up – Still a Buy?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) shares gapped up prior to trading on Friday . The stock had previously closed at $17.01, but opened at $17.80. Sims Metal Management shares last traded at $17.80, with a volume of 520 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Zacks Research upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Sims Metal Management presently has a consensus rating of “Hold”.

Sims Metal Management Trading Up 4.6%

The business has a 50-day moving average price of $18.32 and a 200-day moving average price of $15.59.

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.