Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down – What’s Next?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $19.0050, but opened at $16.50. Sims Metal Management shares last traded at $16.75, with a volume of 4,661 shares.

Analysts Set New Price Targets

SMSMY has been the topic of a number of recent research reports. Zacks Research raised shares of 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 equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Sims Metal Management presently has a consensus rating of “Hold”.

Sims Metal Management Stock Down 9.5%

The business has a 50-day simple moving average of $18.63 and a two-hundred day simple moving average of $16.24. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 1.51.

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.