Glencore (OTCMKTS:GLNCY) Sets New 12-Month High – What’s Next?

Shares of Glencore PLC (OTCMKTS:GLNCY) reached a new 52-week high during trading on Monday . The stock traded as high as $11.3210 and last traded at $11.27, with a volume of 136876 shares traded. The stock had previously closed at $11.02.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a report on Tuesday, December 16th. Citigroup reiterated a “buy” rating on shares of Glencore in a research report on Friday, September 26th. UBS Group downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Sanford C. Bernstein cut Glencore from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Finally, Barclays restated an “overweight” rating on shares of Glencore in a research note on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Stock Up 2.6%

The firm has a 50 day moving average of $9.83 and a two-hundred day moving average of $8.86. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.87.

About Glencore

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.