Sims Metal Management (OTCMKTS:SMSMY) Shares Gap Down - Here's What Happened

Key Points

• Sims Metal Management's shares gapped down from a previous close of $8.80 to opening at $8.54 before trading at the same price with a volume of 1,001 shares.
• Wall Street Zen downgraded the stock from a "buy" to a "hold" rating, with the current average rating standing at "Sell."
• The company declared a dividend of $0.0688 per share, to be paid on October 27th, which yields an impressive 134.0%.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $8.80, but opened at $8.54. Sims Metal Management shares last traded at $8.54, with a volume of 1,001 shares trading hands.

Wall Street Analyst Weigh In

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 data from MarketBeat, the stock currently has an average rating of "Sell".

Sims Metal Management Trading Down 0.1%

The company has a quick ratio of 1.13, a current ratio of 1.66 and a debt-to-equity ratio of 0.20. The firm's fifty day simple moving average is $9.46 and its two-hundred day simple moving average is $9.61.

Sims Metal Management Announces Dividend

The company also recently declared 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. This represents a yield of 134.0%. The ex-dividend date is Wednesday, October 1st.

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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