Glencore (OTCMKTS:GLNCY) Rating Lowered to Strong Sell at Freedom Broker

Glencore (OTCMKTS:GLNCY) was downgraded by equities researchers at Freedom Broker from a “strong-buy” rating to a “strong sell” rating in a research note issued to investors on Thursday, Zacks reports.

Several other equities research analysts have also recently issued reports on the stock. Barclays restated an “overweight” rating on shares of Glencore in a report on Tuesday, July 7th. Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research report on Monday, August 24th. The Goldman Sachs Group raised Glencore from a “hold” rating to a “buy” rating in a research report on Thursday, July 9th. Citigroup reiterated a “buy” rating on shares of Glencore in a research note on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Price Performance

Shares of GLNCY stock opened at $16.25 on Thursday. The company has a 50 day moving average price of $14.73 and a 200-day moving average price of $14.77. Glencore has a 52 week low of $7.58 and a 52 week high of $16.62. 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 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.