Sumitomo (OTCMKTS:SSUMY) Hits New 52-Week High at $15.47

Sumitomo Co. (OTCMKTS:SSUMY) hit a new 52-week high on Thursday . The company traded as high as $15.47 and last traded at $15.27, with a volume of 26884 shares. The stock had previously closed at $15.07.

Separately, Zacks Investment Research raised shares of Sumitomo from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a report on Wednesday, November 3rd.

The company has a debt-to-equity ratio of 0.86, a current ratio of 1.53 and a quick ratio of 1.17. The business’s 50-day simple moving average is $14.52 and its two-hundred day simple moving average is $14.20.

About Sumitomo (OTCMKTS:SSUMY)

Sumitomo Corp. engages in the business of trading services. It operates through the following segments: Metal Products, Transportation & Construction Systems, Infrastructure, Media & Digital, Living Related & Real Estate, and Mineral Resources, Energy, Chemical & Electronics. The Metal Products segment handles the trade of metal products, including steel sheets, tubular products, and other products, as well as non-ferrous metals such as aluminum and titanium.

Further Reading: When is a capital gain realized?

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