Glencore (OTCMKTS:GLNCY) Reaches New 1-Year High on Analyst Upgrade

Glencore PLC (OTCMKTS:GLNCY)’s share price reached a new 52-week high 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.

Other research analysts have also issued research reports about the company. Barclays reissued 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 research note on Tuesday. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Friday, September 26th. Sanford C. Bernstein downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Finally, UBS Group downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Stock 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 company’s fifty day moving average price is $9.49 and its 200-day moving average price is $8.61.

Glencore Company Profile

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.