Glencore (OTCMKTS:GLNCY) Sets New 1-Year High – Here’s Why

Glencore PLC (OTCMKTS:GLNCY)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.00 and last traded at $17.00, with a volume of 41300 shares changing hands. The stock had previously closed at $16.25.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup restated a “buy” rating on shares of Glencore in a research report on Wednesday, August 12th. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research note on Monday, August 24th. Freedom Capital downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Glencore in a report on Thursday, July 2nd. Finally, The Goldman Sachs Group upgraded Glencore from a “hold” rating to a “buy” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Glencore Trading Up 0.7%

The firm has a 50-day simple moving average of $14.92 and a 200-day simple moving average of $14.84. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.77.

Glencore Company Profile

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.