Glencore (OTCMKTS:GLNCY) Shares Gap Down – Time to Sell?

Glencore PLC (OTCMKTS:GLNCY)’s share price gapped down before the market opened on Friday . The stock had previously closed at $15.45, but opened at $14.85. Glencore shares last traded at $14.85, with a volume of 342 shares traded.

Analyst Ratings Changes

GLNCY has been the topic of a number of recent analyst reports. Freedom Capital downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Barclays reiterated an “overweight” rating on shares of Glencore in a report on Tuesday, July 7th. The Goldman Sachs Group upgraded Glencore from a “hold” rating to a “buy” rating in a report on Thursday, July 9th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research report on Wednesday, August 12th. Finally, Freedom Broker lowered shares of Glencore from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Down 4.1%

The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. The stock has a 50 day simple moving average of $15.18 and a 200 day simple moving average of $14.91.

Glencore Company Profile

Glencore plc is a diversified natural resources company involved in the production, processing and marketing of commodities. Its products include copper, cobalt, zinc, nickel, ferroalloys, alumina, aluminum, coal and oil, as well as related energy products. The company also provides sourcing, logistics, storage and other marketing services that connect producers with industrial customers worldwide.

Glencore operates mines, metallurgical facilities, processing plants, refineries and other industrial assets across multiple regions, including Africa, Australia, Canada, Europe and South America.