Glencore (OTCMKTS:GLNCY) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Glencore (OTCMKTS:GLNCY) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the company. HSBC raised Glencore from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. Citigroup reissued a “buy” rating on shares of Glencore in a research note on Monday, April 13th. Royal Bank Of Canada reissued an “outperform” rating on shares of Glencore in a research note on Wednesday, February 4th. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research note on Thursday, April 9th. Finally, Barclays reissued an “overweight” rating on shares of Glencore in a research note on Wednesday, February 25th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Glencore Price Performance

Shares of GLNCY opened at $15.96 on Tuesday. Glencore has a 12 month low of $6.96 and a 12 month high of $16.02. The stock’s 50-day moving average price is $14.67 and its two-hundred day moving average price is $12.53. 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

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.