Glencore (OTCMKTS:GLNCY) Hits New 1-Year High – What’s Next?

Glencore PLC (OTCMKTS:GLNCY)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.8150 and last traded at $13.58, with a volume of 570863 shares traded. The stock had previously closed at $13.62.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Glencore in a report on Thursday, January 8th. Morgan Stanley restated an “overweight” rating on shares of Glencore in a research note on Tuesday, December 16th. Sanford C. Bernstein lowered Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Finally, HSBC lowered Glencore to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Glencore presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Stock Down 0.3%

The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 0.87. The firm’s 50-day moving average price is $10.85 and its 200 day moving average price is $9.39.

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.