Glencore (OTCMKTS:GLNCY) Sets New 52-Week High – What’s Next?

Glencore PLC (OTCMKTS:GLNCY)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.62 and last traded at $10.60, with a volume of 608523 shares traded. The stock had previously closed at $10.46.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Barclays reiterated an “overweight” rating on shares of Glencore in a research note on Monday, December 8th. Berenberg Bank raised shares of Glencore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Sanford C. Bernstein downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Morgan Stanley restated an “overweight” rating on shares of Glencore in a research note on Tuesday, December 16th. Finally, Citigroup reaffirmed a “buy” rating on shares of Glencore in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Stock Performance

The stock’s 50-day moving average price is $9.58 and its 200-day moving average price is $8.69. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.15 and a quick ratio of 0.58.

Glencore Company Profile

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.