Citigroup Upgrades Sims Metal Management (OTCMKTS:SMSMY) to Buy

Sims Metal Management (OTCMKTS:SMSMY) was upgraded by equities research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Thursday, The Fly reports.

Shares of OTCMKTS:SMSMY traded down $0.12 on Thursday, reaching $6.81. 743 shares of the company’s stock were exchanged, compared to its average volume of 2,138. Sims Metal Management has a twelve month low of $6.33 and a twelve month high of $13.11.

About Sims Metal Management

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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