Sims Metal Management (OTCMKTS:SMSMY) Trading Down 5.8% – Time to Sell?

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) traded down 5.8% during mid-day trading on Friday . The company traded as low as $15.6450 and last traded at $15.6450. 2,146 shares were traded during mid-day trading, a decline of 64% from the average session volume of 6,009 shares. The stock had previously closed at $16.60.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Royal Bank Of Canada raised shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Sims Metal Management Stock Down 3.5%

The business’s 50 day simple moving average is $14.35 and its 200-day simple moving average is $13.25.

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.