Sims Metal Management (OTCMKTS:SMSMY) Stock Passes Above 50-Day Moving Average – Here’s What Happened

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $17.82 and traded as high as $17.90. Sims Metal Management shares last traded at $17.90, with a volume of 1,716 shares traded.

Analyst Ratings Changes

SMSMY has been the topic of a number of research analyst reports. Zacks Research raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Jefferies Financial Group raised Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada upgraded shares of 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 three have issued a Hold rating to the stock. Based on data from MarketBeat, Sims Metal Management has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The business has a 50 day moving average price of $17.82 and a 200-day moving average price of $15.22.

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.