Glencore (OTCMKTS:GLNCY) Cut to Strong Sell at Freedom Broker

Glencore (OTCMKTS:GLNCY) was downgraded by investment analysts at Freedom Broker from a “strong-buy” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks reports.

GLNCY has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Glencore in a report on Thursday, July 2nd. Freedom Capital lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Glencore in a research note on Thursday, July 30th. Zacks Research raised shares of Glencore from a “strong sell” rating to a “hold” rating in a report on Friday, August 7th. Finally, The Goldman Sachs Group upgraded shares of Glencore from a “hold” rating to a “buy” rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Stock Performance

Shares of Glencore stock opened at $16.25 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 0.56. The firm has a fifty day moving average price of $14.73 and a 200 day moving average price of $14.77. Glencore has a 1 year low of $7.58 and a 1 year high of $16.62.

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.