Glencore (OTCMKTS:GLNCY) Rating Lowered to “Strong Sell” at Freedom Broker

Glencore (OTCMKTS:GLNCY) was downgraded by analysts at Freedom Broker from a “strong-buy” rating to a “strong sell” rating in a report issued on Thursday, Zacks reports.

Several other research firms have also commented on GLNCY. Citigroup reiterated a “buy” rating on shares of Glencore in a research note on Wednesday, August 12th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research note on Monday, August 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Glencore in a report on Thursday, July 2nd. Freedom Capital cut shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, The Goldman Sachs Group upgraded shares of Glencore from a “hold” rating to a “buy” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Performance

GLNCY opened at $16.25 on Thursday. Glencore has a twelve month low of $7.58 and a twelve month high of $16.62. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 1.06. The company has a 50-day moving average price of $14.73 and a 200 day moving average price of $14.77.

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.