Glencore (OTCMKTS:GLNCY) Sees Large Volume Increase – Should You Buy?

Shares of Glencore PLC (OTCMKTS:GLNCY) saw an uptick in trading volume on Friday . 749,910 shares traded hands during mid-day trading, an increase of 88% from the previous session’s volume of 398,571 shares.The stock last traded at $10.9850 and had previously closed at $10.93.

Analyst Upgrades and Downgrades

GLNCY has been the topic of several recent analyst reports. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research report on Friday, September 26th. Barclays reaffirmed an “overweight” rating on shares of Glencore in a research report on Monday, December 8th. Sanford C. Bernstein lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a report on Tuesday, December 16th. Finally, Berenberg Bank upgraded Glencore from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Glencore Stock Performance

The stock has a 50-day moving average of $9.80 and a 200-day moving average of $8.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.58 and a current ratio of 1.15.

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.