Sims Metal Management (OTCMKTS:SMSMY) Shares Up 7.7% – Should You Buy?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) traded up 7.7% on Wednesday . The company traded as high as $17.25 and last traded at $17.25. 234 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 4,791 shares. The stock had previously closed at $16.01.

Analysts Set New Price Targets

Several research firms have recently weighed in on SMSMY. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, June 17th. Zacks Research raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sims Metal Management currently has an average rating of “Hold”.

Sims Metal Management Price Performance

The company has a current ratio of 1.51, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17. The business has a 50-day simple moving average of $18.24 and a 200-day simple moving average of $16.34.

About Sims Metal Management

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.