Sims Metal Management (OTCMKTS:SMSMY) Raised to Hold at Zacks Research

Sims Metal Management (OTCMKTS:SMSMY) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

A number of other analysts also recently issued reports on the stock. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. The Goldman Sachs Group upgraded 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 upgraded shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sims Metal Management has an average rating of “Hold”.

Sims Metal Management Trading Down 5.3%

OTCMKTS:SMSMY opened at $18.97 on Monday. The stock has a 50-day moving average price of $16.84 and a 200 day moving average price of $14.68. Sims Metal Management has a 12-month low of $8.16 and a 12-month high of $21.35.

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.