Sims Metal Management (OTCMKTS:SMSMY) Trading Down 9% – Should You Sell?

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) were down 9% during trading on Wednesday . The company traded as low as $16.83 and last traded at $16.83. Approximately 336 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 4,854 shares. The stock had previously closed at $18.50.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Sims Metal Management Stock Performance

The business has a fifty day moving average of $18.47 and a two-hundred day moving average of $16.29. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.95 and a current ratio of 1.51.

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.