Glencore PLC (GLNCY) Lowered to Underweight at Morgan Stanley
Glencore PLC (OTCMKTS:GLNCY) was downgraded by Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report issued on Wednesday, StockTargetPrices.com reports.
Several other analysts have also recently commented on GLNCY. Sanford C. Bernstein restated an “overweight” rating on shares of Glencore PLC in a research report on Wednesday, May 25th. Credit Suisse Group AG upgraded Glencore PLC from a “neutral” rating to an “outperform” rating in a research report on Monday. Citigroup Inc. restated a “neutral” rating on shares of Glencore PLC in a research report on Monday, August 22nd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Glencore PLC in a research report on Thursday, August 25th. Finally, Societe Generale raised Glencore PLC from a “hold” rating to a “buy” rating in a research note on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Glencore PLC presently has an average rating of “Hold” and a consensus price target of $5.00.
Glencore PLC (OTCMKTS:GLNCY) traded up 0.20% during trading on Wednesday, hitting $5.06. The stock had a trading volume of 37,984 shares. Glencore PLC has a 1-year low of $1.95 and a 1-year high of $5.15. The stock’s market cap is $36.00 billion. The firm’s 50-day moving average price is $4.87 and its 200-day moving average price is $4.38.
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