Sims Metal Management (OTCMKTS:SMSMY) Hits New 52-Week High – Time to Buy?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) hit a new 52-week high on Monday . The company traded as high as $21.35 and last traded at $20.65, with a volume of 1701 shares changing hands. The stock had previously closed at $20.64.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SMSMY. The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Royal Bank Of Canada raised shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. Finally, Zacks Research downgraded shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Sims Metal Management Trading Up 0.0%

The business has a fifty day moving average price of $15.87 and a 200-day moving average price of $14.21.

Sims Metal Management Company Profile

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.