GLENCORE PLC/ADR (OTCMKTS:GLNCY) Upgraded to “Hold” at Zacks Investment Research
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. “
A number of other research analysts have also recently commented on GLNCY. Goldman Sachs Group cut shares of GLENCORE PLC/ADR from a neutral rating to a sell rating in a research report on Friday, July 19th. BMO Capital Markets cut shares of GLENCORE PLC/ADR from an outperform rating to a market perform rating in a research report on Wednesday, July 10th. UBS Group reiterated a neutral rating on shares of GLENCORE PLC/ADR in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. lowered shares of GLENCORE PLC/ADR from a neutral rating to an underweight rating in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. GLENCORE PLC/ADR has an average rating of Hold and a consensus price target of $8.25.
About GLENCORE PLC/ADR
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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