Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Up – Still a Buy?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $16.0250, but opened at $17.50. Sims Metal Management shares last traded at $17.75, with a volume of 1,018 shares traded.

Analyst Ratings Changes

SMSMY has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Zacks Research downgraded shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada upgraded shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sims Metal Management presently has an average rating of “Hold”.

Sims Metal Management Stock Up 1.6%

The stock’s 50 day moving average is $14.50 and its 200 day moving average is $13.37.

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.