Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down – Time to Sell?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped down before the market opened on Monday . The stock had previously closed at $20.5750, but opened at $19.20. Sims Metal Management shares last traded at $19.20, with a volume of 4,830 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SMSMY shares. Jefferies Financial Group raised Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. 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. Finally, Zacks Research upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Sims Metal Management presently has a consensus rating of “Hold”.

Sims Metal Management Stock Down 5.3%

The stock has a 50 day simple moving average of $16.84 and a two-hundred day simple moving average of $14.68.

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.