Glencore (OTCMKTS:GLNCY) Raised to “Strong-Buy” at Zacks Research

Glencore (OTCMKTS:GLNCY) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also issued reports on GLNCY. Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research report on Thursday, April 9th. Citigroup reiterated a “buy” rating on shares of Glencore in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Glencore in a research report on Friday, January 30th. UBS Group upgraded shares of Glencore to a “hold” rating in a research report on Monday, February 9th. Finally, Barclays reiterated an “overweight” rating on shares of Glencore in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Glencore presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Stock Performance

Shares of OTCMKTS GLNCY opened at $15.96 on Tuesday. The company’s 50-day simple moving average is $14.67 and its 200-day simple moving average is $12.53. Glencore has a 52-week low of $6.96 and a 52-week high of $16.02. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84.

About Glencore

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.