Short Interest in Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) Increases By 62.8%

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 155,399 shares, an increase of 62.8% from the November 30th total of 95,451 shares. Based on an average daily volume of 137,777 shares, the short-interest ratio is presently 1.1 days. Based on an average daily volume of 137,777 shares, the short-interest ratio is presently 1.1 days.

Sumitomo Metal Mining Stock Down 0.1%

OTCMKTS:SMMYY opened at $10.25 on Tuesday. The firm’s fifty day simple moving average is $8.53 and its 200-day simple moving average is $7.35. Sumitomo Metal Mining has a fifty-two week low of $4.07 and a fifty-two week high of $10.50.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group raised Sumitomo Metal Mining from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. Jefferies Financial Group upgraded shares of Sumitomo Metal Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Sumitomo Metal Mining Company Profile

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.