Glencore (OTCMKTS:GLNCY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $11.00 target price on the energy company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 11.06% from the company’s previous close.
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. “
Other equities research analysts have also issued reports about the stock. ValuEngine upgraded shares of Glencore from a “hold” rating to a “buy” rating in a research note on Friday, March 23rd. Clarkson Capital restated a “buy” rating on shares of Glencore in a research note on Wednesday, January 17th. UBS restated a “neutral” rating on shares of Glencore in a research note on Monday, March 5th. Royal Bank of Canada upgraded shares of Glencore from an “outperform” rating to a “top pick” rating in a research note on Wednesday, April 4th. Finally, Deutsche Bank restated a “buy” rating on shares of Glencore in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.00.
Shares of GLNCY stock opened at $9.91 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.58 and a debt-to-equity ratio of 0.51. Glencore has a 1 year low of $6.90 and a 1 year high of $11.68. The firm has a market capitalization of $70,645.17, a price-to-earnings ratio of 12.70 and a beta of 2.12.
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Glencore Company Profile
Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products 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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