Glencore (OTCMKTS:GLNCY) Stock Rating Lowered by Zacks Research

Glencore (OTCMKTS:GLNCY – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also weighed in on the stock. Barclays reaffirmed an “overweight” rating on shares of Glencore in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Glencore in a report on Friday, May 15th. HSBC raised shares of Glencore from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a report on Thursday, April 9th. Finally, Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

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Glencore Stock Performance

OTCMKTS GLNCY opened at $15.73 on Wednesday. The company has a 50 day moving average of $15.32 and a 200-day moving average of $13.45. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 0.84. Glencore has a 1-year low of $7.40 and a 1-year high of $16.62.

About Glencore

(Get Free Report)

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.

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