Glencore (OTCMKTS:GLNCY) Stock Rating Lowered by Freedom Capital

Glencore (OTCMKTS:GLNCY) was downgraded by equities researchers at Freedom Capital from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other research analysts have also recently issued reports on GLNCY. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a research note on Friday, May 15th. Zacks Research cut Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Barclays reaffirmed an “overweight” rating on shares of Glencore in a research note on Wednesday, February 25th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Monday, April 13th. Finally, HSBC raised Glencore from a “hold” rating to a “buy” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Performance

OTCMKTS GLNCY opened at $15.13 on Tuesday. The stock’s 50-day simple moving average is $15.37 and its two-hundred day simple moving average is $13.63. Glencore has a twelve month low of $7.40 and a twelve month high of $16.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.54 and a current ratio of 1.06.

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.