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

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 32,899 shares, a drop 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 Ratings Changes

Separately, Daiwa Securities Group raised shares of Sumitomo Metal Mining to a “strong-buy” rating in a report 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Sumitomo Metal Mining Trading Up 0.9%

Shares of OTCMKTS:SMMYY traded up $0.13 on Tuesday, hitting $14.17. The company had a trading volume of 235,935 shares, compared to its average volume of 113,079. The firm’s 50-day simple moving average is $15.28 and its two-hundred day simple moving average is $13.42. Sumitomo Metal Mining has a 1 year low of $5.46 and a 1 year high of $20.51.

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.