Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) Short Interest Update

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 2,288 shares, a drop of 93.0% from the May 14th total of 32,899 shares. Based on an average trading volume of 226,941 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Separately, Daiwa Securities Group upgraded Sumitomo Metal Mining to a “strong-buy” rating in a research note on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Sumitomo Metal Mining currently has a consensus rating of “Buy”.

Sumitomo Metal Mining Trading Up 1.7%

SMMYY traded up $0.20 during trading on Wednesday, hitting $12.10. 108,433 shares of the stock were exchanged, compared to its average volume of 128,265. Sumitomo Metal Mining has a 1-year low of $5.46 and a 1-year high of $20.51. The stock has a fifty day moving average price of $15.17 and a two-hundred day moving average price of $13.63.

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.