Glencore (OTCMKTS:GLNCY) Sets New 12-Month High – Still a Buy?

Glencore PLC (OTCMKTS:GLNCY)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $15.5050 and last traded at $15.42, with a volume of 161237 shares. The stock had previously closed at $15.21.

Analyst Ratings Changes

GLNCY has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Glencore in a report on Wednesday, February 4th. Barclays reaffirmed an “overweight” rating on shares of Glencore in a report on Wednesday, February 25th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a report on Thursday, April 9th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a report on Monday, April 13th. Finally, HSBC upgraded shares of Glencore from a “hold” rating to a “buy” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Glencore Trading Up 1.4%

The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84. The business’s 50 day simple moving average is $14.51 and its 200 day simple moving average is $12.26.

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.