Glencore (OTCMKTS:GLNCY) Hits New 12-Month High – Time to Buy?

Glencore PLC (OTCMKTS:GLNCY) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.71 and last traded at $15.50, with a volume of 482143 shares changing hands. The stock had previously closed at $15.41.

Analysts Set New Price Targets

GLNCY has been the topic of a number of research analyst reports. Citigroup reissued a “buy” rating on shares of Glencore in a research report on Monday, April 13th. Barclays restated an “overweight” rating on shares of Glencore in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Glencore in a report on Friday, January 30th. HSBC upgraded Glencore from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. Finally, UBS Group upgraded Glencore to a “hold” rating in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Glencore currently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Glencore Price Performance

The company’s 50-day moving average price is $14.67 and its 200-day moving average price is $12.53. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.54 and a current ratio of 1.06.

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.