Sims Metal Management (OTCMKTS:SMSMY) Stock Price Down 5.8% – Here’s What Happened

Sims Metal Management Ltd. (OTCMKTS:SMSMY)’s stock price was down 5.8% on Friday . The company traded as low as $15.6450 and last traded at $15.6450. Approximately 2,146 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 6,009 shares. The stock had previously closed at $16.60.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SMSMY shares. The Goldman Sachs Group raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Royal Bank Of Canada raised shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. Finally, Zacks Research downgraded shares of Sims Metal Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Sims Metal Management Price Performance

The stock’s 50-day moving average price is $14.29 and its two-hundred day moving average price is $13.23.

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.