Shares of Glencore PLC (OTCMKTS:GLNCY – Get Free Report) hit a new 52-week high during mid-day trading on Thursday after Berenberg Bank upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $10.28 and last traded at $10.26, with a volume of 13837 shares traded. The stock had previously closed at $10.11.
GLNCY has been the topic of a number of other reports. Morgan Stanley restated an “overweight” rating on shares of Glencore in a report on Tuesday. Citigroup restated a “buy” rating on shares of Glencore in a report on Friday, September 26th. Barclays reiterated an “overweight” rating on shares of Glencore in a research note on Monday, December 8th. Sanford C. Bernstein downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Finally, UBS Group cut Glencore from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.
View Our Latest Research Report on GLNCY
Glencore Trading Up 1.5%
About Glencore
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.
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