Glencore (OTCMKTS:GLNCY) Cut to “Hold” at Hsbc Global Res

Hsbc Global Res lowered shares of Glencore (OTCMKTS:GLNCY) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts also recently issued reports about the company. Berenberg Bank upgraded Glencore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. UBS Group lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Barclays restated an “overweight” rating on shares of Glencore in a report on Monday, December 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a report on Tuesday, December 16th. Finally, HSBC lowered shares of Glencore to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Trading Down 0.2%

Shares of OTCMKTS:GLNCY opened at $13.92 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.15 and a quick ratio of 0.58. The business’s 50 day simple moving average is $11.04 and its 200-day simple moving average is $9.46. Glencore has a 12 month low of $5.74 and a 12 month high of $14.00.

About Glencore

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.