Glencore (OTCMKTS:GLNCY) Sets New 52-Week High After Analyst Upgrade

Glencore PLC (OTCMKTS:GLNCY)’s stock price hit a new 52-week high during trading on Thursday after Berenberg Bank upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $10.28 and last traded at $10.26, with a volume of 13837 shares changing hands. The stock had previously closed at $10.11.

Several other research analysts also recently commented on GLNCY. UBS Group downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research report on Friday, September 26th. Morgan Stanley restated an “overweight” rating on shares of Glencore in a research note on Tuesday. Sanford C. Bernstein lowered Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Barclays reiterated an “overweight” rating on shares of Glencore in a report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Price Performance

The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 0.87. The business’s 50-day moving average is $9.53 and its two-hundred day moving average is $8.64.

Glencore Company Profile

Glencore is a global natural resources company engaged in the production, processing and marketing of commodities. The business combines large-scale mining and metals operations with an extensive physical commodities trading and marketing platform. Its activities span the full commodity value chain, from extraction and smelting/refining to the commercial distribution of metals and energy products to industrial customers worldwide.

Key product areas include base and precious metals (such as copper, zinc, nickel and related concentrates), bulk commodities and energy products (including thermal coal and oil) and associated value‑added materials and services.