Sims Metal Management (OTCMKTS:SMSMY) Hits New 52-Week High – What’s Next?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) shares reached a new 52-week high on Tuesday . The company traded as high as $17.00 and last traded at $16.95, with a volume of 1645 shares. The stock had previously closed at $16.0250.

Analysts Set New Price Targets

A number of research firms have weighed in on SMSMY. 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. Zacks Research lowered shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, 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. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Sims Metal Management Trading Up 6.1%

The company’s 50-day moving average price is $14.41 and its 200 day moving average price is $13.32.

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.