Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) Short Interest Down 45.0% in May

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 32,899 shares, a decrease of 45.0% from the April 30th total of 59,786 shares. Based on an average trading volume of 210,368 shares, the short-interest ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Daiwa Securities Group raised shares of Sumitomo Metal Mining to a “strong-buy” rating in a research note on Friday, February 27th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy”.

Sumitomo Metal Mining Price Performance

Shares of OTCMKTS SMMYY opened at $13.96 on Thursday. Sumitomo Metal Mining has a 52 week low of $5.46 and a 52 week high of $20.51. The company’s 50-day moving average price is $15.29 and its 200 day moving average price is $13.50.

Sumitomo Metal Mining Company Profile

Sumitomo Metal Mining Co, Ltd., headquartered in Tokyo, Japan, is a diversified metals and mining company with operations spanning exploration, extraction, smelting, refining and recycling. Tracing its roots to the historic Besshi Copper Mine under the Sumitomo umbrella, it was established as a standalone corporate entity in 1950. The company’s product portfolio includes copper, nickel, cobalt and gold, with a growing emphasis on battery‐grade nickel and cobalt sulfate for lithium‐ion cells used in electric vehicles and energy storage systems.

Key assets include the Niihama copper smelter and refinery in Ehime Prefecture, and a 20% interest in PT Vale Indonesia, operator of the Sorowako nickel mine on Sulawesi Island.