Glencore (OTCMKTS:GLNCY) Downgraded to Hold Rating by Freedom Capital

Freedom Capital cut shares of Glencore (OTCMKTS:GLNCY) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

GLNCY has been the subject of several other research reports. Zacks Research cut Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research report on Thursday, April 9th. HSBC raised Glencore from a “hold” rating to a “buy” rating in a research report on Tuesday, April 14th. Citigroup reissued a “buy” rating on shares of Glencore in a research report on Monday, April 13th. Finally, Barclays reissued an “overweight” rating on shares of Glencore in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Trading Down 4.2%

Shares of OTCMKTS:GLNCY opened at $15.13 on Tuesday. Glencore has a fifty-two week low of $7.40 and a fifty-two week high of $16.62. The business has a 50-day moving average of $15.37 and a two-hundred day moving average of $13.63. 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.