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Sims Metal Management (OTCMKTS:SMSMY) Shares Down 7.4% - Time to Sell?

Sims Metal Management logo with Business Services background

Key Points

  • Sims Metal Management's share price decreased by 7.4%, closing at $9.02, with a significant drop in trading volume of 83% compared to its average.
  • The company was downgraded from a "buy" to a "hold" rating by Wall Street Zen, contributing to concerns about its stock performance.
  • Sims Metal Management operates internationally, focusing on recycling ferrous and non-ferrous metals across various regions, including the US and Australia.
  • Interested in Sims Metal Management? Here are five stocks we like better.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report)'s share price traded down 7.4% during trading on Friday . The company traded as low as $9.02 and last traded at $9.02. 335 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 1,970 shares. The stock had previously closed at $9.74.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Sims Metal Management from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of "Sell".

Get Our Latest Research Report on SMSMY

Sims Metal Management Trading Down 7.4%

The business's fifty day moving average price is $9.86 and its two-hundred day moving average price is $9.62. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.13 and a current ratio of 1.66.

About Sims Metal Management

(Get Free Report)

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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