Sims Metal Management Ltd (OTCMKTS:SMSMY) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.00 and last traded at $5.27, with a volume of 28701 shares. The stock had previously closed at $6.01.
Several research firms have issued reports on SMSMY. Jefferies Financial Group began coverage on shares of Sims Metal Management in a report on Thursday, December 5th. They issued an “underperform” rating on the stock. Zacks Investment Research raised shares of Sims Metal Management from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a report on Saturday, February 22nd. Finally, ValuEngine raised shares of Sims Metal Management from a “hold” rating to a “buy” rating in a report on Tuesday, February 25th.
The company’s 50 day moving average price is $6.99 and its 200 day moving average price is $7.21.
About Sims Metal Management (OTCMKTS:SMSMY)
Sims Metal Management Limited engages in buying, processing, and selling ferrous and non-ferrous recycled metals. The company operates through five segments: North America Metals, Investment in SA Recycling, Australia/New Zealand, Metals, Europe Metals, and Global E-Recycling. It is involved in the collection, processing, and trading of iron and steel secondary raw materials; and other metal alloys and residues, principally aluminum, lead, copper, zinc, and nickel bearing materials.