Glencore (OTCMKTS:GLNCY) Sees Strong Trading Volume – Still a Buy?

Glencore PLC (OTCMKTS:GLNCY) shares saw an uptick in trading volume on Thursday . Approximately 2,094,520 shares changed hands during trading, an increase of 159% from the previous session’s volume of 808,287 shares.The stock last traded at $13.69 and had previously closed at $13.43.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Freedom Capital downgraded Glencore from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. HSBC upgraded Glencore from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. Citigroup restated a “buy” rating on shares of Glencore in a research note on Monday, April 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a report on Thursday, April 9th. Finally, The Goldman Sachs Group upgraded shares of Glencore from a “neutral” rating to a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Stock Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 0.54. The firm has a fifty day moving average of $15.02 and a 200-day moving average of $14.04.

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.