Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Up – Time to Buy?

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped up before the market opened on Friday. The stock had previously closed at $16.01, but opened at $17.3350. Sims Metal Management shares last traded at $17.3350, with a volume of 182 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SMSMY shares. 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 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.com, the stock presently has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $17.62 and a 200 day simple moving average of $16.85.

About Sims Metal Management

Sims Metal Management, now known as Sims Limited, is a global metal recycling and resource recovery company. Its core business involves collecting, processing and supplying recycled ferrous and non-ferrous metals to steel mills, foundries and other industrial customers. The company handles materials such as steel, aluminum, copper and other recyclable metals sourced from businesses, manufacturers, demolition projects and end-of-life products.

Through its Sims Metal operations, the company provides scrap-metal collection, sorting, processing and recycling services.