Glencore (OTCMKTS:GLNCY) Hits New 52-Week High – Still a Buy?

Glencore PLC (OTCMKTS:GLNCY)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $13.44 and last traded at $13.36, with a volume of 366035 shares traded. The stock had previously closed at $12.97.

Analyst Upgrades and Downgrades

GLNCY has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Glencore in a report on Thursday, January 8th. Barclays reiterated an “overweight” rating on shares of Glencore in a report on Monday, December 8th. UBS Group lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Sanford C. Bernstein downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Berenberg Bank raised shares of Glencore from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Stock Up 3.1%

The company has a debt-to-equity ratio of 0.87, a current ratio of 1.15 and a quick ratio of 0.58. The firm has a 50-day moving average price of $10.54 and a 200 day moving average price of $9.24.

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.