Sumitomo Metal Mining Co., Ltd. (OTCMKTS:SMMYY – Get Rating) saw a large increase in short interest in April. As of April 30th, there was short interest totalling 56,300 shares, an increase of 63.2% from the April 15th total of 34,500 shares. Based on an average daily volume of 176,100 shares, the short-interest ratio is presently 0.3 days.
OTCMKTS SMMYY opened at $9.68 on Friday. The stock’s 50 day moving average is $11.98 and its 200 day moving average is $11.05. Sumitomo Metal Mining has a 12 month low of $8.52 and a 12 month high of $13.78.
Separately, The Goldman Sachs Group began coverage on Sumitomo Metal Mining in a report on Tuesday, April 26th. They issued a “buy” rating on the stock.
Sumitomo Metal Mining Co, Ltd., together with its subsidiaries, engages in mining, smelting, and refining non-ferrous metals in Japan and internationally. It operates through three segments: Mineral Resources, Smelting & Refining, and Materials. The company provides metal products, including copper, nickel/cobalt, gold/precious metal, and other deposits.
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