Sims Metal Management (OTCMKTS:SMSMY) Trading Down 8.9% – Here’s Why

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s share price dropped 8.9% during trading on Monday . The company traded as low as $12.24 and last traded at $12.50. Approximately 1,014 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 7,279 shares. The stock had previously closed at $13.72.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SMSMY. 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. The Goldman Sachs Group upgraded shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Sims Metal Management Stock Performance

The firm’s 50 day simple moving average is $14.32 and its 200-day simple moving average is $11.90. The company has a current ratio of 1.66, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20.

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.