Skip to Content

Sims Ltd (SGM) $15.15

SGM is the world’s largest iron and steel scrap provider whose headquarters are in New York following the US$1.4bn acquisition of Metal Management in 2008. Over 70% of EBIT is now generated outside of Australia, with the US contributing half. Sims’ main businesses encompass buying, processing, and selling ferrous and non-ferrous recycled metals. The company delivered a strong H1 result in February but management noted that the outlook remains uncertain (despite recent strengthening in ferrous and non-ferrous prices), with inflation and labour shortages persisting, and competition for scrap likely to continue into 2H23.

  • We believe SGM will make fresh 2023 highs in the coming months but it’s not exciting ~$15 with management cautious moving forward.
MM is bullish on SGM short term initially targeting $17
Add To Hit List
image description
Sims Ltd (SGM)
image description

Relevant suggested news and content from the site

Back to top