Glencore (OTCMKTS:GLNCY) Given New GBX 620 Price Target at Morgan Stanley

Glencore (OTCMKTS:GLNCYGet Rating) had its target price reduced by Morgan Stanley from GBX 623 ($7.78) to GBX 620 ($7.75) in a report published on Tuesday morning, The Fly reports.

A number of other equities analysts also recently issued reports on GLNCY. BMO Capital Markets upgraded Glencore from a market perform rating to an outperform rating in a research report on Tuesday, February 22nd. Jefferies Financial Group raised their price objective on Glencore from GBX 550 ($6.87) to GBX 600 ($7.50) in a research report on Wednesday, March 9th. Zacks Investment Research upgraded Glencore from a hold rating to a strong-buy rating and set a $13.00 price objective for the company in a research report on Friday, February 11th. JPMorgan Chase & Co. lowered their price objective on Glencore from 10,100.00 to 9,700.00 in a research report on Friday, January 14th. Finally, HSBC assumed coverage on Glencore in a report on Friday, March 18th. They issued a buy rating for the company. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Glencore presently has a consensus rating of Buy and an average target price of $2,304.60.

Shares of GLNCY opened at $11.99 on Tuesday. Glencore has a 1 year low of $7.91 and a 1 year high of $14.00. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.59 and a current ratio of 1.17. The business has a 50-day moving average of $12.80 and a 200-day moving average of $11.17.

The firm also recently announced a dividend, which will be paid on Monday, June 6th. Shareholders of record on Friday, April 22nd will be issued a $0.221 dividend. The ex-dividend date of this dividend is Thursday, April 21st. This represents a yield of 2.88%.

Glencore Company Profile (Get Rating)

Glencore plc produces, refines, processes, stores, transports, and markets metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments, Marketing Activities and Industrial Activities. The company produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.

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