Glencore (OTCMKTS:GLNCY) Stock Bumped Down to “Strong Sell” by Zacks Research

Zacks Research cut shares of Glencore (OTCMKTS:GLNCY) from a hold rating to a strong sell rating in a report released on Monday morning,Zacks reports.

Several other equities research analysts have also recently weighed in on the company. UBS Group upgraded Glencore from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a report on Monday, August 24th. Freedom Capital lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Glencore in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Glencore currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Stock Performance

Shares of OTCMKTS:GLNCY opened at $14.64 on Monday. 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 company’s fifty day moving average is $15.31 and its 200 day moving average is $14.95. Glencore has a 52 week low of $8.66 and a 52 week high of $17.05.

About Glencore

Glencore plc is a diversified natural resources company involved in the production, processing, marketing and distribution of commodities. Its activities span metals and minerals, energy products and agricultural products, serving industrial customers and consumers around the world through a global network of assets, offices and logistics operations.

The company produces and markets commodities including copper, cobalt, nickel, zinc, lead, ferroalloys and coal. It also participates in the marketing and distribution of crude oil, refined petroleum products and other energy-related commodities.