Glencore PLC (GLNCY) Stock Rating Lowered by Zacks Investment Research
Glencore PLC (OTCMKTS:GLNCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Glencore Plc operates as a diversified natural resource company. It operates in three groups: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in mining, smelting, refining, and warehousing copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore. The Energy Products segment includes controlled and non-controlled coal mining and oil production operations and investments in strategic handling, storage and freight equipment and facilities. The Agricultural Products segment focuses on grains, oils/oilseeds, cotton and sugar. The Company’s operations consist of mining and metallurgical sites, offshore oil production assets, farms and agricultural facilities. It is a producer and marketer of commodities, such as mobile phones, bicycles, cutlery, plastics and electricity. Glencore Plc, formerly known as Glencore Xstrata PLC, is headquartered in Baar, Switzerland. “
Separately, Bank of America Corporation cut Glencore PLC from a “buy” rating to a “neutral” rating in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.00.
Glencore PLC (OTCMKTS GLNCY) opened at 9.05 on Tuesday. Glencore PLC has a 1-year low of $4.46 and a 1-year high of $9.05. The stock’s 50 day moving average is $8.48 and its 200-day moving average is $7.89. The firm has a market cap of $64.53 billion, a P/E ratio of 15.50 and a beta of 2.06.
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Glencore PLC Company Profile
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of commodities worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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