Zacks Research Downgrades Glencore (OTCMKTS:GLNCY) to Strong Sell

Glencore (OTCMKTS:GLNCY) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks reports.

Several other brokerages also recently commented on GLNCY. UBS Group raised Glencore from a “hold” rating to a “buy” rating in a report on Friday. Citigroup reiterated a “buy” rating on shares of Glencore in a research report on Wednesday, August 12th. Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a report on Monday, August 24th. Freedom Broker lowered shares of Glencore from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Finally, Barclays reaffirmed an “overweight” rating on shares of Glencore in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Glencore has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Glencore Trading Up 0.1%

Glencore stock opened at $14.64 on Monday. The business has a 50 day moving average of $15.31 and a 200-day moving average of $14.95. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. Glencore has a 1 year low of $8.66 and a 1 year high of $17.05.

About Glencore

Glencore plc is a diversified natural resources company involved in the production, processing, marketing and distribution of commodities. Its activities span metals and minerals, energy products and agricultural products, serving industrial customers and consumers around the world through a global network of assets, offices and logistics operations.

The company produces and markets commodities including copper, cobalt, nickel, zinc, lead, ferroalloys and coal. It also participates in the marketing and distribution of crude oil, refined petroleum products and other energy-related commodities.