Glencore (OTCMKTS:GLNCY) Shares Gap Down – What’s Next?

Glencore PLC (OTCMKTS:GLNCY) shares gapped down before the market opened on Friday . The stock had previously closed at $17.00, but opened at $16.31. Glencore shares last traded at $16.40, with a volume of 46,765 shares trading hands.

Analysts Set New Price Targets

GLNCY has been the subject of several research analyst reports. Barclays reaffirmed an “overweight” rating on shares of Glencore in a report on Tuesday, July 7th. Zacks Research upgraded shares of Glencore from a “strong sell” rating to a “hold” rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a research note on Thursday, July 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Glencore in a report on Thursday, July 30th. Finally, Citigroup reiterated a “buy” rating on shares of Glencore in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Glencore has an average rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Up 1.2%

The company has a fifty day moving average price of $14.97 and a two-hundred day moving average price of $14.86. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.77.

About Glencore

Glencore plc is a diversified natural resources company involved in the production, processing and marketing of commodities. Its products include copper, cobalt, zinc, nickel, ferroalloys, alumina, aluminum, coal and oil, as well as related energy products. The company also provides sourcing, logistics, storage and other marketing services that connect producers with industrial customers worldwide.

Glencore operates mines, metallurgical facilities, processing plants, refineries and other industrial assets across multiple regions, including Africa, Australia, Canada, Europe and South America.