Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down – Here’s What Happened

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped down prior to trading on Thursday . The stock had previously closed at $15.81, but opened at $15.11. Sims Metal Management shares last traded at $16.15, with a volume of 1,317 shares trading hands.

Analysts Set New Price Targets

SMSMY has been the subject of several analyst reports. Royal Bank Of Canada upgraded shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Zacks Research lowered Sims Metal Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sims Metal Management currently has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The stock has a 50-day moving average price of $14.35 and a 200-day moving average price of $13.25.

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.