Sims Metal Management (OTCMKTS:SMSMY) Shares Up 9.5% - Here's Why

Key Points

• Shares rose 9.5% intraday to $14.10 (high $14.2950), but volume was light at ~1,138 shares—about an 84% decline from the average of 7,135.
• Analyst sentiment has improved recently, with Royal Bank of Canada upgrading to a "moderate buy" and Goldman Sachs moving to "hold," leaving a MarketBeat consensus of Moderate Buy (one Buy, one Hold).
• The stock trades near its 50‑day SMA of $14.20 and comfortably above its 200‑day SMA of $12.05; SMSMY is the global metal recycling division of Sims Limited, focused on sourcing and processing ferrous and non‑ferrous scrap.

Shares of Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) were up 9.5% on Thursday . The stock traded as high as $14.2950 and last traded at $14.10. Approximately 1,138 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 7,135 shares. The stock had previously closed at $12.88.

Analysts Set New Price Targets

Several analysts have weighed in on SMSMY shares. Royal Bank Of Canada upgraded Sims Metal Management from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, March 18th. The Goldman Sachs Group upgraded Sims Metal Management from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

Sims Metal Management Price Performance

The company has a 50-day simple moving average of $14.20 and a two-hundred day simple moving average of $12.05.

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.

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