Sims Metal Management (OTCMKTS:SMSMY) Stock Price Down 10% – What’s Next?

Sims Metal Management Ltd. (OTCMKTS:SMSMY) traded down 10% during mid-day trading on Wednesday . The company traded as low as $18.01 and last traded at $18.01. 101 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 5,605 shares. The stock had previously closed at $20.02.

Analyst Upgrades and Downgrades

SMSMY has been the topic 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. Jefferies Financial Group raised shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. 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. Finally, Zacks Research raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Sims Metal Management Trading Down 5.0%

The firm has a fifty day simple moving average of $16.84 and a 200 day simple moving average of $14.68.

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.