Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Up – Still a Buy?

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) gapped up before the market opened on Tuesday . The stock had previously closed at $16.01, but opened at $16.9950. Sims Metal Management shares last traded at $16.9950, with a volume of 260 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SMSMY. Zacks Research raised Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Jefferies Financial Group upgraded shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Sims Metal Management has a consensus rating of “Hold”.

Sims Metal Management Price Performance

The stock has a fifty day moving average of $18.30 and a two-hundred day moving average of $16.32. The company has a quick ratio of 0.95, a current ratio of 1.51 and a debt-to-equity ratio of 0.17.

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.