Zacks Investment Research Lowers GLENCORE PLC/ADR (OTCMKTS:GLNCY) to Sell
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. “
GLNCY has been the subject of several other reports. Royal Bank of Canada set a $30.00 price target on Shaw Communications and gave the stock a buy rating in a research report on Wednesday, April 10th. BMO Capital Markets downgraded GLENCORE PLC/ADR from an outperform rating to a market perform rating in a research note on Wednesday. Goldman Sachs Group upgraded Martin Marietta Materials from a neutral rating to a buy rating and boosted their target price for the stock from $207.00 to $232.00 in a research note on Thursday, April 11th. Finally, UBS Group dropped their target price on Broadcom from $325.00 to $310.00 and set a buy rating on the stock in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and an average target price of $8.25.
About GLENCORE PLC/ADR
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. 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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