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

Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped down before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SMSMY shares. Zacks Research downgraded Sims Metal Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday. 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. Finally, The Goldman Sachs Group raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note 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 issued a Sell rating to the stock. According to data from MarketBeat, Sims Metal Management presently has a consensus rating of “Hold”.

Sims Metal Management Stock Performance

The firm has a 50 day moving average price of $14.23 and a 200 day moving average price of $13.19.

Sims Metal Management Company Profile

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.