Brokerages Set Glencore PLC (OTCMKTS:GLNCY) Target Price at $9.30

Glencore PLC (OTCMKTS:GLNCY) has been given a consensus rating of “Moderate Buy” by the seven analysts that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.30.

A number of analysts have recently issued reports on GLNCY shares. Berenberg Bank set a $9.30 price objective on Glencore in a research report on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a report on Friday, September 26th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research report on Thursday, October 30th. Barclays reissued an “overweight” rating on shares of Glencore in a research report on Monday. Finally, Sanford C. Bernstein downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd.

Glencore Stock Performance

Glencore stock opened at $10.02 on Wednesday. The stock has a 50-day simple moving average of $9.46 and a 200 day simple moving average of $8.55. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 0.87. Glencore has a 52 week low of $5.74 and a 52 week high of $10.28.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of 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 engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.