Sims Metal Management (OTCMKTS:SMSMY) Stock Price Down 9% – Here’s Why

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY) traded down 9% on Wednesday . The company traded as low as $16.83 and last traded at $16.83. 336 shares traded hands during trading, a decline of 93% from the average session volume of 4,854 shares. The stock had previously closed at $18.50.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SMSMY shares. Jefferies Financial Group upgraded Sims Metal Management from a “moderate sell” rating to a “hold” rating in a report on Wednesday, June 17th. 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. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Sims Metal Management Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 1.51 and a quick ratio of 0.95. The company has a 50-day moving average price of $18.57 and a 200-day moving average price of $16.25.

About Sims Metal Management

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.