Glencore (OTCMKTS:GLNCY) Sets New 52-Week High – Here’s Why

Glencore PLC (OTCMKTS:GLNCY) shares hit a new 52-week high on Tuesday . The stock traded as high as $13.8150 and last traded at $13.58, with a volume of 570863 shares trading hands. The stock had previously closed at $13.62.

Wall Street Analysts Forecast Growth

GLNCY has been the subject of several analyst reports. UBS Group lowered Glencore from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Sanford C. Bernstein cut Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. HSBC downgraded Glencore to a “hold” rating in a report on Monday. Royal Bank Of Canada restated an “outperform” rating on shares of Glencore in a report on Thursday, January 8th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Trading Down 0.2%

The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.87. The business has a fifty day moving average price of $11.04 and a two-hundred day moving average price of $9.46.

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.