Glencore (OTCMKTS:GLNCY) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Glencore (OTCMKTS:GLNCY) from a hold rating to a strong sell rating in a research report report published on Thursday,Zacks.com reports.

Several other equities research analysts have also weighed in on GLNCY. HSBC raised shares of Glencore from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Monday, April 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Glencore in a research report on Thursday, July 2nd. Finally, Barclays reaffirmed an “overweight” rating on shares of Glencore in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Stock Performance

OTCMKTS:GLNCY traded down $0.12 during trading hours on Thursday, reaching $13.67. The company had a trading volume of 370,403 shares, compared to its average volume of 742,267. The stock has a 50-day moving average of $14.97 and a two-hundred day moving average of $14.06. Glencore has a one year low of $7.44 and a one year high of $16.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.54 and a current ratio of 1.06.

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.