Sumitomo Metal Mining (OTCMKTS:SMMYY) Trading Down 1.5% – What’s Next?

Shares of Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) dropped 1.5% on Tuesday . The stock traded as low as $9.66 and last traded at $9.67. Approximately 61,680 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 67,423 shares. The stock had previously closed at $9.8202.

Analyst Ratings Changes

A number of analysts have recently weighed in on SMMYY shares. Jefferies Financial Group raised shares of Sumitomo Metal Mining from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. The Goldman Sachs Group upgraded Sumitomo Metal Mining from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Sumitomo Metal Mining Trading Down 1.5%

The firm’s fifty day moving average price is $8.41 and its 200-day moving average price is $7.23.

Sumitomo Metal Mining Company Profile

Sumitomo Metal Mining Co, Ltd., headquartered in Tokyo, Japan, is a diversified metals and mining company with operations spanning exploration, extraction, smelting, refining and recycling. Tracing its roots to the historic Besshi Copper Mine under the Sumitomo umbrella, it was established as a standalone corporate entity in 1950. The company’s product portfolio includes copper, nickel, cobalt and gold, with a growing emphasis on battery‐grade nickel and cobalt sulfate for lithium‐ion cells used in electric vehicles and energy storage systems.

Key assets include the Niihama copper smelter and refinery in Ehime Prefecture, and a 20% interest in PT Vale Indonesia, operator of the Sorowako nickel mine on Sulawesi Island.