Glencore (OTCMKTS:GLNCY) Downgraded to “Strong Sell” Rating by Zacks Research

Glencore (OTCMKTS:GLNCY) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on GLNCY. Citigroup reissued a “buy” rating on shares of Glencore in a research note on Monday, April 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research note on Thursday, April 9th. The Goldman Sachs Group upgraded Glencore from a “hold” rating to a “buy” rating in a report on Thursday. HSBC raised Glencore from a “hold” rating to a “buy” rating in a research report on Tuesday, April 14th. Finally, Freedom Capital cut shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Stock Performance

GLNCY stock opened at $13.67 on Thursday. Glencore has a one year low of $7.44 and a one year high of $16.62. The firm’s 50 day moving average price is $14.97 and its 200-day moving average price is $14.06. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 0.84.

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.