Glencore International PLC, St. Helier (GLNCY) Cut to “Hold” at Zacks Investment Research
Glencore International PLC, St. Helier (OTCMKTS:GLNCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Glencore Plc operates as a diversified natural resource company. It operates in three groups: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in mining, smelting, refining, and warehousing copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore. The Energy Products segment includes controlled and non-controlled coal mining and oil production operations and investments in strategic handling, storage and freight equipment and facilities. The Agricultural Products segment focuses on grains, oils/oilseeds, cotton and sugar. The Company’s operations consist of mining and metallurgical sites, offshore oil production assets, farms and agricultural facilities. It is a producer and marketer of commodities, such as mobile phones, bicycles, cutlery, plastics and electricity. Glencore Plc, formerly known as Glencore Xstrata PLC, is headquartered in Baar, Switzerland. “
Several other research firms have also issued reports on GLNCY. Liberum Capital lowered Glencore International PLC, St. Helier from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. JPMorgan Chase & Co. upgraded Glencore International PLC, St. Helier from a “neutral” rating to an “overweight” rating in a research note on Friday, December 15th. Finally, Deutsche Bank upgraded Glencore International PLC, St. Helier from a “hold” rating to a “buy” rating in a research note on Monday, September 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $12.00.
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Glencore International PLC, St. Helier Company Profile
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of commodities worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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