Sumitomo Metal Mining (OTCMKTS:SMMYY) Stock Price Up 0.1% – Still a Buy?

Sumitomo Metal Mining Co., Ltd. – Unsponsored ADR (OTCMKTS:SMMYY) rose 0.1% during trading on Wednesday . The stock traded as high as $15.77 and last traded at $15.63. Approximately 76,726 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 88,105 shares. The stock had previously closed at $15.61.

Analyst Upgrades and Downgrades

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

Sumitomo Metal Mining Stock Performance

The company has a 50-day simple moving average of $15.93 and a two-hundred day simple moving average of $12.10.

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.