Glencore (OTCMKTS:GLNCY) Sees Unusually-High Trading Volume – Time to Buy?

Glencore PLC (OTCMKTS:GLNCY) shares saw an uptick in trading volume on Thursday . 2,079,993 shares changed hands during mid-day trading, an increase of 201% from the previous session’s volume of 692,098 shares.The stock last traded at $13.65 and had previously closed at $13.77.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GLNCY shares. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research report on Wednesday, January 28th. HSBC downgraded shares of Glencore to a “hold” rating in a research note on Monday, January 26th. UBS Group upgraded shares of Glencore to a “hold” rating in a report on Monday, February 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Glencore in a report on Friday, January 30th. Finally, Berenberg Bank raised shares of Glencore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Stock Performance

The firm’s fifty day moving average is $13.62 and its 200-day moving average is $10.92. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 0.58.

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.