Glencore (OTCMKTS:GLNCY) Downgraded to Strong Sell Rating by Zacks Research

Glencore (OTCMKTS:GLNCY) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. The Goldman Sachs Group upgraded shares of Glencore from a “hold” rating to a “buy” rating in a report on Thursday. Barclays reiterated an “overweight” rating on shares of Glencore in a report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Glencore in a research note on Thursday, July 2nd. HSBC raised Glencore from a “hold” rating to a “buy” rating in a research report on Tuesday, April 14th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research note on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Glencore presently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Glencore Trading Down 0.9%

OTCMKTS GLNCY opened at $13.67 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 0.54. The firm has a 50 day simple moving average of $14.97 and a 200-day simple moving average of $14.06. Glencore has a one year low of $7.44 and a one year high of $16.62.

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.