Sumitomo Metal Mining (OTCMKTS:SMMYY) Stock Price Down 3.1% – Here’s What Happened

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY)’s share price was down 3.1% during trading on Thursday . The company traded as low as $16.65 and last traded at $16.72. Approximately 44,700 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 90,633 shares. The stock had previously closed at $17.25.

Analyst Ratings Changes

Separately, Daiwa Securities Group upgraded Sumitomo Metal Mining to a “strong-buy” rating in a research report on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Sumitomo Metal Mining presently has a consensus rating of “Buy”.

Sumitomo Metal Mining Price Performance

The stock has a 50-day moving average price of $15.47 and a 200 day moving average price of $12.88.

Sumitomo Metal Mining Company Profile

Sumitomo Metal Mining Co, Ltd., headquartered in Tokyo, Japan, is a diversified metals and mining company with operations spanning exploration, extraction, smelting, refining and recycling. Tracing its roots to the historic Besshi Copper Mine under the Sumitomo umbrella, it was established as a standalone corporate entity in 1950. The company’s product portfolio includes copper, nickel, cobalt and gold, with a growing emphasis on battery‐grade nickel and cobalt sulfate for lithium‐ion cells used in electric vehicles and energy storage systems.

Key assets include the Niihama copper smelter and refinery in Ehime Prefecture, and a 20% interest in PT Vale Indonesia, operator of the Sorowako nickel mine on Sulawesi Island.