Glencore (OTCMKTS:GLNCY) Sets New 12-Month High – Still a Buy?

Glencore PLC (OTCMKTS:GLNCY)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $12.57 and last traded at $12.55, with a volume of 209831 shares. The stock had previously closed at $12.04.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on GLNCY shares. Barclays restated an “overweight” rating on shares of Glencore in a report on Monday, December 8th. Sanford C. Bernstein lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note 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. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Friday, September 26th. Finally, UBS Group cut Glencore from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Trading Up 4.4%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.58 and a current ratio of 1.15. The company has a 50-day simple moving average of $10.06 and a two-hundred day simple moving average of $9.01.

About Glencore

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.