Sumitomo Metal Mining (OTCMKTS:SMMYY) Stock Price Up 0.3% – Time to Buy?

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) was up 0.3% on Thursday . The company traded as high as $18.07 and last traded at $16.94. Approximately 169,006 shares changed hands during mid-day trading, an increase of 16% from the average daily volume of 145,121 shares. The stock had previously closed at $16.89.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised Sumitomo Metal Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Sumitomo Metal Mining has a consensus rating of “Buy”.

Sumitomo Metal Mining Stock Down 3.3%

The stock has a fifty day simple moving average of $11.97 and a 200-day simple moving average of $9.04.

About Sumitomo Metal Mining

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.