Sims Metal Management (OTCMKTS:SMSMY) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Sims Metal Management Ltd. (OTCMKTS:SMSMY) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $17.82 and traded as high as $17.90. Sims Metal Management shares last traded at $17.90, with a volume of 1,716 shares.

Wall Street Analysts Forecast Growth

SMSMY has been the topic of a number of recent research reports. Zacks Research raised shares of Sims Metal Management from a “strong sell” rating to a “hold” rating in a research note on Monday, June 22nd. Jefferies Financial Group raised shares of Sims Metal Management from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, June 17th. Finally, Royal Bank Of Canada raised shares of Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold”.

Sims Metal Management Stock Up 0.6%

The firm has a 50 day moving average price of $17.89 and a 200-day moving average price of $15.24.

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.