Glencore (OTCMKTS:GLNCY) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of Glencore (OTCMKTS:GLNCY) from a strong-buy rating to a hold rating in a report published on Wednesday,Zacks.com reports.

Several other brokerages also recently commented on GLNCY. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a research note on Friday, May 15th. HSBC raised Glencore from a “hold” rating to a “buy” rating in a research note on Tuesday, April 14th. Barclays reaffirmed an “overweight” rating on shares of Glencore in a research note on Wednesday, February 25th. Finally, Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Performance

GLNCY stock opened at $15.73 on Wednesday. Glencore has a twelve month low of $7.40 and a twelve month high of $16.62. 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 business’s fifty day moving average is $15.32 and its 200-day moving average is $13.45.

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.