Glencore (OTCMKTS:GLNCY) Stock Price Down 4.1% – Here’s Why

Shares of Glencore PLC (OTCMKTS:GLNCY) were down 4.1% during trading on Monday. The stock traded as low as $14.80 and last traded at $14.81. 259,914 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 794,422 shares. The stock had previously closed at $15.44.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GLNCY shares. The Goldman Sachs Group upgraded shares of Glencore from a “hold” rating to a “buy” rating in a report on Thursday, July 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research note on Monday, August 24th. Zacks Research upgraded shares of Glencore from a “strong sell” rating to a “hold” rating in a report on Monday, October 5th. Freedom Broker cut shares of Glencore from a “strong-buy” rating to a “strong sell” rating in a report on Thursday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Glencore in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Glencore Price Performance

The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $15.48 and a 200-day simple moving average of $15.06.

Glencore Company Profile

Glencore plc is a diversified natural resources company engaged in the production, processing, marketing and distribution of commodities. Its activities span metals and minerals, energy products and agricultural products, serving industrial customers and consumers worldwide.

The company produces and markets commodities including copper, cobalt, zinc, nickel, ferroalloys, aluminum, coal and oil. It also participates in the marketing and distribution of metals, minerals, crude oil, refined products, coal and agricultural goods.