Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Up – Here’s What Happened

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $18.05, but opened at $19.52. Sims Metal Management shares last traded at $19.52, with a volume of 298 shares traded.

Analysts Set New Price Targets

SMSMY has been the subject of several research analyst reports. The Goldman Sachs Group raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Jefferies Financial Group upgraded Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. Zacks Research raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Royal Bank Of Canada upgraded Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Sims Metal Management Stock Down 1.5%

The stock’s fifty day moving average price is $17.13 and its 200 day moving average price is $14.81.

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.