Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Up – What’s Next?

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $16.8682, but opened at $17.86. Sims Metal Management shares last traded at $17.86, with a volume of 282 shares.

Analysts Set New Price Targets

SMSMY has been the topic of a number of research analyst reports. Zacks Research raised 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 raised shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Sims Metal Management presently has an average rating of “Hold”.

Sims Metal Management Trading Up 5.9%

The company has a current ratio of 1.51, a quick ratio of 0.95 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $17.88 and its two-hundred day moving average is $16.47.

Sims Metal Management Company Profile

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.