Glencore (OTCMKTS:GLNCY) Sees Strong Trading Volume – Here’s Why
by Tristan Rich · The Markets DailyGlencore PLC (OTCMKTS:GLNCY – Get Free Report) saw an uptick in trading volume on Thursday . 1,307,943 shares were traded during mid-day trading, an increase of 32% from the previous session’s volume of 993,876 shares.The stock last traded at $13.05 and had previously closed at $13.43.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GLNCY. Sanford C. Bernstein lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. UBS Group downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a report on Tuesday, December 16th. Citigroup reiterated a “buy” rating on shares of Glencore in a research note on Friday, September 26th. Finally, Berenberg Bank raised Glencore from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Glencore presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.
Get Our Latest Report on GLNCY
Glencore Trading Down 2.0%
The business’s 50 day moving average price is $10.62 and its 200-day moving average price is $9.27. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 0.87.
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.