Glencore PLC (GLNCY) Downgraded by Morgan Stanley to “Underweight”
Glencore PLC (OTCMKTS:GLNCY) was downgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report issued on Wednesday.
Several other research firms have also commented on GLNCY. Sanford C. Bernstein reaffirmed an “overweight” rating on shares of Glencore PLC in a report on Wednesday, May 25th. Credit Suisse Group AG raised Glencore PLC from a “neutral” rating to an “outperform” rating in a report on Monday. Citigroup Inc. reaffirmed a “neutral” rating on shares of Glencore PLC in a report on Monday, August 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Glencore PLC in a report on Thursday, August 25th. Finally, Societe Generale raised Glencore PLC from a “hold” rating to a “buy” rating in a report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $5.00.
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Glencore PLC (OTCMKTS:GLNCY) remained flat at $5.05 during mid-day trading on Wednesday. 30,515 shares of the company traded hands. The stock’s 50-day moving average price is $4.87 and its 200-day moving average price is $4.38. The firm’s market capitalization is $35.92 billion. Glencore PLC has a 12-month low of $1.95 and a 12-month high of $5.15.
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