Short Interest in Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) Declines By 93.0%

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY – Get Free Report) was the target of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 2,288 shares, a decrease of 93.0% from the May 14th total of 32,899 shares. Based on an average daily trading volume, of 226,941 shares, the short-interest ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Daiwa Securities Group raised shares of Sumitomo Metal Mining to a “strong-buy” rating in a research note on Friday, February 27th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy”.

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Sumitomo Metal Mining Stock Performance

OTCMKTS:SMMYY traded down $0.75 during trading hours on Tuesday, reaching $11.90. 186,231 shares of the company were exchanged, compared to its average volume of 135,944. Sumitomo Metal Mining has a 52-week low of $5.46 and a 52-week high of $20.51. The stock has a 50 day simple moving average of $15.17 and a 200 day simple moving average of $13.63.

About Sumitomo Metal Mining

(Get Free Report)

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.

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