Russel Metals (OTCMKTS:RUSMF) Trading Up 2.1% – Should You Buy?

Russel Metals Inc. (OTCMKTS:RUSMF) shares shot up 2.1% during mid-day trading on Monday . The stock traded as high as $55.01 and last traded at $55.01. 8,377 shares traded hands during trading, a decline of 54% from the average session volume of 18,213 shares. The stock had previously closed at $53.86.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Raymond James Financial cut Russel Metals to a “market perform” rating in a report on Monday, August 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Russel Metals in a report on Monday, August 10th. Finally, Scotiabank restated an “outperform” rating on shares of Russel Metals in a research report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Russel Metals Stock Performance

The business has a 50 day moving average of $51.98 and a 200-day moving average of $43.78.

Russel Metals Company Profile

Russel Metals Inc is one of North America’s leading metal distribution and processing companies, offering a comprehensive range of steel, aluminum, stainless steel, and specialty metal products. Through its extensive network of service centres, the company provides value-added processing such as precision cutting, shearing, burning, drilling, rolling, and plate profiling, alongside inventory management and just-in-time delivery solutions. This integrated model helps industrial, construction, and manufacturing customers optimize supply chains and reduce lead times.

Founded in 1929 and headquartered in Mississauga, Ontario, Russel Metals has grown through organic expansion and strategic acquisitions to establish a broad presence across Canada and the United States.