Glencore (OTCMKTS:GLNCY) Sets New 12-Month High – Here’s Why

by · The Cerbat Gem

Glencore PLC (OTCMKTS:GLNCY – Get Free Report)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $17.00 and last traded at $17.00, with a volume of 41300 shares trading hands. The stock had previously closed at $16.25.

Analysts Set New Price Targets

Several research firms have recently commented on GLNCY. Freedom Capital lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. The Goldman Sachs Group raised Glencore from a “hold” rating to a “buy” rating in a research note on Thursday, July 9th. Citigroup restated a “buy” rating on shares of Glencore in a research report on Wednesday, August 12th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Glencore in a research note on Thursday, July 30th. Finally, Freedom Broker cut Glencore from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

View Our Latest Research Report on GLNCY

Glencore Stock Up 4.3%

The business’s fifty day moving average price is $14.78 and its 200 day moving average price is $14.80. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.77.

Glencore Company Profile

(Get Free Report)

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.

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