Glencore (OTCMKTS:GLNCY) Upgraded to Outperform by Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Glencore (OTCMKTS:GLNCYGet Rating) from a market perform rating to an outperform rating in a report released on Wednesday morning, The Fly reports.

A number of other analysts have also weighed in on GLNCY. Deutsche Bank Aktiengesellschaft lowered their target price on Glencore from GBX 560 ($6.62) to GBX 500 ($5.91) in a research note on Wednesday, October 5th. JPMorgan Chase & Co. lowered their target price on Glencore from GBX 690 ($8.16) to GBX 660 ($7.80) in a research note on Friday, October 14th. Finally, Morgan Stanley lowered their target price on Glencore from GBX 740 ($8.75) to GBX 730 ($8.63) in a research note on Tuesday, August 2nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $664.00.

Glencore Price Performance

Glencore stock opened at $12.82 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 0.71 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average price of $11.27 and a two-hundred day moving average price of $11.35. Glencore has a 52-week low of $9.17 and a 52-week high of $14.00.

Glencore Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, September 29th. Investors of record on Friday, September 2nd were issued a $0.221 dividend. This represents a yield of 3.94%. The ex-dividend date of this dividend was Thursday, September 1st.

Glencore Company Profile

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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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