Russel Metals (OTCMKTS:RUSMF) Trading 2.1% Higher – Time to Buy?

Shares of Russel Metals Inc. (OTCMKTS:RUSMF) were up 2.1% on Monday . The company traded as high as $55.01 and last traded at $55.01. 8,377 shares were traded during trading, a decline of 54% from the average session volume of 18,213 shares. The stock had previously closed at $53.86.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RUSMF shares. Raymond James Financial lowered Russel Metals to a “market perform” rating in a report on Monday, August 10th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Russel Metals in a research report on Monday, August 10th. Finally, Scotiabank reiterated an “outperform” rating on shares of Russel Metals in a report on Friday, July 24th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Russel Metals currently has a consensus rating of “Moderate Buy”.

Russel Metals Trading Up 2.1%

The firm’s 50-day moving average price is $51.75 and its 200 day moving average price is $43.64.

Russel Metals Company Profile

Russel Metals Inc is one of North America’s leading metal distribution and processing companies, offering a comprehensive range of steel, aluminum, stainless steel, and specialty metal products. Through its extensive network of service centres, the company provides value-added processing such as precision cutting, shearing, burning, drilling, rolling, and plate profiling, alongside inventory management and just-in-time delivery solutions. This integrated model helps industrial, construction, and manufacturing customers optimize supply chains and reduce lead times.

Founded in 1929 and headquartered in Mississauga, Ontario, Russel Metals has grown through organic expansion and strategic acquisitions to establish a broad presence across Canada and the United States.