Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) Short Interest Update

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) was the target of a large increase in short interest in June. As of June 15th, there was short interest totaling 29,917 shares, an increase of 1,207.6% from the May 31st total of 2,288 shares. Based on an average daily volume of 359,346 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Daiwa Securities Group raised shares of Sumitomo Metal Mining to a “strong-buy” rating in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Sumitomo Metal Mining currently has a consensus rating of “Buy”.

Sumitomo Metal Mining Trading Down 2.7%

OTCMKTS:SMMYY traded down $0.33 on Thursday, hitting $11.70. 588,001 shares of the company’s stock were exchanged, compared to its average volume of 155,927. The firm has a 50-day moving average price of $14.68 and a 200-day moving average price of $14.07. Sumitomo Metal Mining has a 52 week low of $5.46 and a 52 week high of $20.51.

Sumitomo Metal Mining Company Profile

Sumitomo Metal Mining Co, Ltd., headquartered in Tokyo, Japan, is a diversified metals and mining company with operations spanning exploration, extraction, smelting, refining and recycling. Tracing its roots to the historic Besshi Copper Mine under the Sumitomo umbrella, it was established as a standalone corporate entity in 1950. The company’s product portfolio includes copper, nickel, cobalt and gold, with a growing emphasis on battery‐grade nickel and cobalt sulfate for lithium‐ion cells used in electric vehicles and energy storage systems.

Key assets include the Niihama copper smelter and refinery in Ehime Prefecture, and a 20% interest in PT Vale Indonesia, operator of the Sorowako nickel mine on Sulawesi Island.