Glencore (OTCMKTS:GLNCY) Reaches New 52-Week High – Time to Buy?

Glencore PLC (OTCMKTS:GLNCY) hit a new 52-week high during trading on Wednesday . The stock traded as high as $15.20 and last traded at $15.0550, with a volume of 84424 shares traded. The stock had previously closed at $14.9295.

Analyst Ratings Changes

Several brokerages have commented on GLNCY. Barclays restated an “overweight” rating on shares of Glencore in a research report on Wednesday, February 25th. Royal Bank Of Canada restated an “outperform” rating on shares of Glencore in a research report on Wednesday, February 4th. UBS Group upgraded shares of Glencore to a “hold” rating in a research report on Monday, February 9th. Berenberg Bank upgraded shares of Glencore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research report on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Glencore Stock Performance

The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average is $13.97 and its 200 day moving average is $11.52.

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.