Glencore PLC (OTCMKTS:GLNCY) Lifted to Hold at Zacks Investment Research
Glencore PLC (OTCMKTS:GLNCY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Glencore Plc operates as a diversified natural resource company. It operates in three groups: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in mining, smelting, refining, and warehousing copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore. The Energy Products segment includes controlled and non-controlled coal mining and oil production operations and investments in strategic handling, storage and freight equipment and facilities. The Agricultural Products segment focuses on grains, oils/oilseeds, cotton and sugar. The Company’s operations consist of mining and metallurgical sites, offshore oil production assets, farms and agricultural facilities. It is a producer and marketer of commodities, such as mobile phones, bicycles, cutlery, plastics and electricity. Glencore Plc, formerly known as Glencore Xstrata PLC, is headquartered in Baar, Switzerland. “
Separately, Bank of America Corporation downgraded Glencore PLC from a “buy” rating to a “neutral” rating in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Glencore PLC presently has an average rating of “Hold” and an average price target of $8.25.
Glencore PLC (OTCMKTS:GLNCY) opened at 8.40 on Tuesday. The firm has a 50-day moving average price of $7.52 and a 200-day moving average price of $7.72. Glencore PLC has a 52 week low of $4.46 and a 52 week high of $8.62. The company has a market capitalization of $59.85 billion, a price-to-earnings ratio of 43.30 and a beta of 2.03.
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