Glencore (OTCMKTS:GLNCY) Hits New 12-Month High – Should You Buy?

Shares of Glencore PLC (OTCMKTS:GLNCY) reached a new 52-week high during trading on Wednesday . The stock traded as high as $13.44 and last traded at $13.36, with a volume of 366035 shares. The stock had previously closed at $12.97.

Wall Street Analysts Forecast Growth

GLNCY has been the topic of a number of research reports. UBS Group lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Glencore in a research report on Thursday, January 8th. Sanford C. Bernstein downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Berenberg Bank upgraded shares of Glencore from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 17th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research note on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Price Performance

The company’s 50 day simple moving average is $10.69 and its two-hundred day simple moving average is $9.30. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.87.

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.