Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) Sees Significant Increase in Short Interest

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY – Get Free Report) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 29,917 shares, an increase of 1,207.6% from the May 31st total of 2,288 shares. Based on an average daily volume of 359,346 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Ratings Changes

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

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Sumitomo Metal Mining Price Performance

OTCMKTS SMMYY traded up $0.24 during trading hours on Friday, reaching $11.94. 6,052 shares of the company’s stock were exchanged, compared to its average volume of 133,740. The company’s 50-day moving average is $14.68 and its two-hundred day moving average is $14.07. Sumitomo Metal Mining has a one year low of $5.46 and a one year high of $20.51.

Sumitomo Metal Mining Company Profile

(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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