Sims Metal Management (OTCMKTS:SMSMY) Share Price Passes Below 50 Day Moving Average of $7.26

Shares of Sims Metal Management Ltd (OTCMKTS:SMSMY) passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $7.26 and traded as low as $6.54. Sims Metal Management shares last traded at $6.69, with a volume of 1,200 shares.

A number of equities analysts have recently issued reports on SMSMY shares. Citigroup raised Sims Metal Management from a “neutral” rating to a “buy” rating in a research report on Thursday, June 13th. ValuEngine raised Sims Metal Management from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

The business has a 50-day moving average price of $7.24 and a 200-day moving average price of $7.35.

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.

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