Glencore (OTCMKTS:GLNCY) Upgraded to “Strong-Buy” at Berenberg Bank

Berenberg Bank upgraded shares of Glencore (OTCMKTS:GLNCY) from a hold rating to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research note on Tuesday. Barclays reissued an “overweight” rating on shares of Glencore in a research report on Monday, December 8th. Sanford C. Bernstein lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. UBS Group cut shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Finally, Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Friday, September 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Performance

Shares of OTCMKTS:GLNCY opened at $10.11 on Wednesday. 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 is $9.49 and its 200 day moving average is $8.61. Glencore has a 52 week low of $5.74 and a 52 week high of $10.28.

About Glencore

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.