Glencore (OTCMKTS:GLNCY) Hits New 1-Year High – Here’s What Happened

Glencore PLC (OTCMKTS:GLNCY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.62 and last traded at $10.60, with a volume of 608523 shares changing hands. The stock had previously closed at $10.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GLNCY shares. Berenberg Bank upgraded Glencore from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 17th. UBS Group cut shares of Glencore from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research note on Tuesday, December 16th. Barclays restated an “overweight” rating on shares of Glencore in a research note on Monday, December 8th. Finally, Sanford C. Bernstein downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Glencore presently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Trading Up 0.2%

The business’s 50 day moving average price is $9.63 and its 200-day moving average price is $8.72. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 0.87.

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.