Sims Metal Management (OTCMKTS:SMSMY) Trading Up 9.4% - What's Next?

Key Points

• Sims Metal Management jumped 9.4% on Tuesday to $15.33, but trading was very thin — only about 456 shares changed hands, roughly 93% below its average daily volume of 6,977.
• Analysts have recently upgraded the stock: Goldman Sachs moved it from "strong sell" to "hold" and RBC from "hold" to "moderate buy", leaving a MarketBeat average rating of "Moderate Buy" (one Buy, one Hold).
• The shares trade above key technicals (50‑day SMA $14.20; 200‑day SMA $12.37), and the company is the global metal‑recycling division of Sims Limited, processing and trading ferrous and non‑ferrous scrap.

Sims Metal Management Ltd. (OTCMKTS:SMSMY - Get Free Report) was up 9.4% during trading on Tuesday . The stock traded as high as $15.3256 and last traded at $15.3256. Approximately 456 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 6,977 shares. The stock had previously closed at $14.01.

Analysts Set New Price Targets

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

Sims Metal Management Stock Up 9.4%

The company has a 50-day simple moving average of $14.20 and a 200 day simple moving average of $12.37.

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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