Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) Sees Significant Drop in Short Interest

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 32,899 shares, a drop of 45.0% from the April 30th total of 59,786 shares. Based on an average trading volume of 210,368 shares, the days-to-cover ratio is presently 0.2 days.

Sumitomo Metal Mining Price Performance

SMMYY opened at $14.17 on Wednesday. The company’s 50 day simple moving average is $15.28 and its two-hundred day simple moving average is $13.42. Sumitomo Metal Mining has a 1-year low of $5.46 and a 1-year high of $20.51.

Analysts Set New Price Targets

Separately, Daiwa Securities Group upgraded Sumitomo Metal Mining to a “strong-buy” rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

About Sumitomo Metal Mining

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.