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

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

Other equities analysts have also issued reports about the stock. Citigroup reiterated a “buy” rating on shares of Glencore in a research report on Monday, April 13th. Morgan Stanley restated an “overweight” rating on shares of Glencore in a research report on Thursday, April 9th. The Goldman Sachs Group raised Glencore from a “hold” rating to a “buy” rating in a report on Thursday. Freedom Capital lowered Glencore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Glencore in a research note on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Glencore presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

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Glencore Stock Down 0.9%

OTCMKTS GLNCY traded down $0.12 on Thursday, hitting $13.67. 370,403 shares of the company were exchanged, compared to its average volume of 742,267. Glencore has a 1-year low of $7.44 and a 1-year high of $16.62. The firm has a 50 day moving average of $14.97 and a two-hundred day moving average of $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.

Glencore Company Profile

(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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