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 Monday . The stock had previously closed at $19.50, but opened at $18.60. Sims Metal Management shares last traded at $18.60, with a volume of 468 shares traded.

Analyst Ratings Changes

Several brokerages recently issued reports on SMSMY. 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. Zacks Research cut shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The business’s 50-day moving average price is $15.21 and its 200-day moving average price is $13.86.

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.