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

Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped up prior to trading on Tuesday . The stock had previously closed at $14.2350, but opened at $15.15. Sims Metal Management shares last traded at $14.58, with a volume of 13,458 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. Royal Bank Of Canada raised Sims Metal Management from a “hold” rating to a “moderate buy” rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Sims Metal Management has a consensus rating of “Moderate Buy”.

Sims Metal Management Stock Down 4.4%

The company’s fifty day simple moving average is $14.26 and its 200 day simple moving average is $11.72. The company has a quick ratio of 1.13, a current ratio of 1.66 and a debt-to-equity ratio of 0.20.

About Sims Metal Management

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.