Glencore (OTCMKTS:GLNCY) Raised to “Strong-Buy” at Berenberg Bank

Glencore (OTCMKTS:GLNCY) was upgraded by investment analysts at Berenberg Bank from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Several other analysts have also weighed in on the stock. Barclays reiterated an “overweight” rating on shares of Glencore in a research report on Monday, December 8th. UBS Group downgraded Glencore from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Sanford C. Bernstein cut Glencore from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Citigroup restated a “buy” rating on shares of Glencore in a research report on Friday, September 26th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Glencore has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Performance

GLNCY opened at $10.24 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 0.87. The firm’s fifty day moving average price is $9.51 and its two-hundred day moving average price is $8.62. Glencore has a fifty-two week low of $5.74 and a fifty-two week high of $10.34.

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.