Glencore (OTCMKTS:GLNCY) Reaches New 1-Year High – Here’s What Happened

Glencore PLC (OTCMKTS:GLNCY)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $11.3210 and last traded at $11.27, with a volume of 136876 shares changing hands. The stock had previously closed at $11.02.

Analysts Set New Price Targets

GLNCY has been the subject of a number of recent analyst reports. Sanford C. Bernstein lowered Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Barclays reissued an “overweight” rating on shares of Glencore in a report on Monday, December 8th. UBS Group cut shares of Glencore from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Berenberg Bank raised shares of Glencore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Finally, Citigroup reissued a “buy” rating on shares of Glencore in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Stock Up 1.3%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.58 and a current ratio of 1.15. The business’s 50-day moving average price is $9.92 and its 200-day moving average price is $8.91.

About Glencore

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.