Glencore (OTCMKTS:GLNCY) Shares Gap Down – Here’s Why

Glencore PLC (OTCMKTS:GLNCY) shares gapped down before the market opened on Friday . The stock had previously closed at $15.45, but opened at $14.85. Glencore shares last traded at $14.85, with a volume of 342 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on GLNCY shares. The Goldman Sachs Group upgraded shares of Glencore from a “hold” rating to a “buy” rating in a report on Thursday, July 9th. Morgan Stanley restated an “overweight” rating on shares of Glencore in a report on Monday, August 24th. Zacks Research raised shares of Glencore from a “strong sell” rating to a “hold” rating in a research report on Friday, August 7th. Freedom Broker downgraded Glencore from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Finally, Freedom Capital lowered Glencore from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Performance

The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average is $15.18 and its two-hundred day moving average is $14.91.

Glencore Company Profile

Glencore plc is a diversified natural resources company involved in the production, processing and marketing of commodities. Its products include copper, cobalt, zinc, nickel, ferroalloys, alumina, aluminum, coal and oil, as well as related energy products. The company also provides sourcing, logistics, storage and other marketing services that connect producers with industrial customers worldwide.

Glencore operates mines, metallurgical facilities, processing plants, refineries and other industrial assets across multiple regions, including Africa, Australia, Canada, Europe and South America.