Sims Metal Management (OTCMKTS:SMSMY) Shares Down 5.8% – What’s Next?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price fell 5.8% during mid-day trading on Friday . The company traded as low as $15.6450 and last traded at $15.6450. 2,146 shares changed hands during trading, a decline of 64% from the average session volume of 6,009 shares. The stock had previously closed at $16.60.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SMSMY. Zacks Research downgraded shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday. The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Royal Bank Of Canada raised shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Sims Metal Management Price Performance

The firm has a 50-day moving average price of $14.29 and a 200-day moving average price of $13.23.

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.