Glencore (OTCMKTS:GLNCY) Sets New 12-Month High – Here’s Why

Glencore PLC (OTCMKTS:GLNCY)’s stock price hit a new 52-week high on Monday . The stock traded as high as $14.72 and last traded at $14.5801, with a volume of 93416 shares traded. The stock had previously closed at $14.18.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GLNCY shares. Morgan Stanley restated an “overweight” rating on shares of Glencore in a research report on Wednesday, January 28th. Berenberg Bank raised shares of Glencore from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 17th. Royal Bank Of Canada restated an “outperform” rating on shares of Glencore in a report on Wednesday, February 4th. Barclays reaffirmed an “overweight” rating on shares of Glencore in a research note on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Glencore presently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Glencore Price Performance

The company has a 50-day moving average price of $13.83 and a 200-day moving average price of $11.29. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84.

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.