Glencore (OTCMKTS:GLNCY) Downgraded by Zacks Research to “Hold”

Glencore (OTCMKTS:GLNCY) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages also recently issued reports on GLNCY. HSBC upgraded Glencore from a “hold” rating to a “buy” rating in a research report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Glencore in a research report on Friday, May 15th. Citigroup restated a “buy” rating on shares of Glencore in a research report on Monday, April 13th. Barclays restated an “overweight” rating on shares of Glencore in a research report on Wednesday, February 25th. Finally, Morgan Stanley restated an “overweight” rating on shares of Glencore in a research report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Up 5.3%

Shares of GLNCY stock opened at $15.73 on Wednesday. The stock has a fifty day moving average price of $15.32 and a 200 day moving average price of $13.45. Glencore has a 1 year low of $7.40 and a 1 year high of $16.62. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 0.84.

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.