Short Interest in Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) Rises By 62.8%
by Michael Walen · The Markets DailySumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY – Get Free Report) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 155,399 shares, an increase of 62.8% from the November 30th total of 95,451 shares. Based on an average daily trading volume, of 137,777 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 137,777 shares, the days-to-cover ratio is presently 1.1 days.
Sumitomo Metal Mining Stock Performance
OTCMKTS SMMYY traded down $0.13 on Friday, reaching $10.27. The stock had a trading volume of 27,418 shares, compared to its average volume of 66,200. Sumitomo Metal Mining has a 1-year low of $4.07 and a 1-year high of $10.40. The firm has a fifty day moving average of $8.50 and a two-hundred day moving average of $7.31.
Wall Street Analyst Weigh In
SMMYY has been the topic of several recent analyst reports. Jefferies Financial Group upgraded shares of Sumitomo Metal Mining from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. The Goldman Sachs Group raised Sumitomo Metal Mining from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy”.
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About Sumitomo Metal Mining
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.