Sims Metal Management (OTCMKTS:SMSMY) Hits New 12-Month High – Here’s Why

Sims Metal Management Ltd. (OTCMKTS:SMSMY) reached a new 52-week high on Monday . The stock traded as high as $21.35 and last traded at $20.65, with a volume of 1701 shares traded. The stock had previously closed at $20.64.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SMSMY shares. Royal Bank Of Canada upgraded Sims Metal Management from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, March 18th. The Goldman Sachs Group upgraded Sims Metal Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Zacks Research downgraded Sims Metal Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Sims Metal Management Stock Down 0.4%

The business has a fifty day moving average price of $16.20 and a 200 day moving average price of $14.35.

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.