Glencore (OTCMKTS:GLNCY) Hits New 12-Month High – Here’s What Happened

Glencore PLC (OTCMKTS:GLNCY) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $10.98 and last traded at $10.8650, with a volume of 115124 shares. The stock had previously closed at $10.69.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GLNCY shares. Sanford C. Bernstein downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Berenberg Bank upgraded Glencore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Morgan Stanley restated an “overweight” rating on shares of Glencore in a research note on Tuesday, December 16th. UBS Group cut shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Finally, Citigroup reaffirmed a “buy” rating on shares of Glencore in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Glencore Stock Performance

The company has a debt-to-equity ratio of 0.87, a current ratio of 1.15 and a quick ratio of 0.58. The business has a 50-day simple moving average of $9.69 and a 200 day simple moving average of $8.77.

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.