Sims Metal Management (OTCMKTS:SMSMY) Share Price Crosses Below 200 Day Moving Average - What's Next?

Key Points

• Sims Metal Management's share price has fallen below its 200-day moving average of $9.60, currently trading at $9.35.
• Wall Street analysts have downgraded the stock from a "buy" to a "hold" rating, with the average rating now classified as a "sell."
• The company announced a dividend of $0.0688 per share to be paid on October 27th, with a significant yield of 134.0%.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.60 and traded as low as $9.35. Sims Metal Management shares last traded at $9.35, with a volume of 217 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Sims Metal Management from a "buy" rating to a "hold" rating in a report on Sunday, August 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of "Sell".

Sims Metal Management Stock Performance

The company has a 50 day simple moving average of $9.10 and a 200-day simple moving average of $9.60. The company has a current ratio of 1.66, a quick ratio of 1.13 and a debt-to-equity ratio of 0.20.

Sims Metal Management Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Monday, October 27th. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.0688 per share. The ex-dividend date is Wednesday, October 1st. This represents a yield of 134.0%.

About Sims Metal Management

Sims Limited engages in buying, processing, and selling ferrous and non-ferrous recycled metals in Australia, Bangladesh, China, Turkey, the United States, and internationally. The company operates through six segments: North America Metals, Investment in SA Recycling, Australia/New Zealand Metals, UK Metals, Global Trading, and Sims Lifecycle Services.

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