Sims Metal Management (OTCMKTS:SMSMY) Stock Falls 6.7% – Here’s Why

Sims Metal Management Ltd. (OTCMKTS:SMSMY) fell 6.7% during mid-day trading on Thursday. The company traded as low as $14.5271 and last traded at $14.5271. 227 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 4,226 shares. The stock had previously closed at $15.57.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Sims Metal Management has an average rating of “Hold”.

Sims Metal Management Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.53 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $17.12 and a 200-day moving average of $16.97.

About Sims Metal Management

Sims Metal Management, now known as Sims Limited, is a global metal recycling and resource recovery company. Its core business involves collecting, processing and supplying recycled ferrous and non-ferrous metals to steel mills, foundries and other industrial customers. The company handles materials such as steel, aluminum, copper and other recyclable metals sourced from businesses, manufacturers, demolition projects and end-of-life products.

Through its Sims Metal operations, the company provides scrap-metal collection, sorting, processing and recycling services.