Glencore (OTCMKTS:GLNCY) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Glencore PLC (OTCMKTS:GLNCY) saw unusually-strong trading volume on Thursday . Approximately 2,079,993 shares were traded during mid-day trading, an increase of 201% from the previous session’s volume of 692,098 shares.The stock last traded at $13.65 and had previously closed at $13.77.

Analysts Set New Price Targets

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

Glencore Stock Up 0.4%

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 business has a 50-day moving average of $13.56 and a 200-day moving average of $10.86.

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.