Sims Metal Management (OTCMKTS:SMSMY) Trading Down 7.3% – Time to Sell?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) fell 7.3% during mid-day trading on Thursday . The stock traded as low as $18.01 and last traded at $18.01. 563 shares changed hands during trading, a decline of 90% from the average session volume of 5,605 shares. The stock had previously closed at $19.43.

Analyst Ratings Changes

Several brokerages have recently issued reports on SMSMY. Royal Bank Of Canada upgraded Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. Zacks Research downgraded Sims Metal Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Sims Metal Management Stock Performance

The firm’s 50 day simple moving average is $15.57 and its 200-day simple moving average is $14.07.

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.