Glencore (OTCMKTS:GLNCY) Rating Lowered to Hold at Hsbc Global Res

Glencore (OTCMKTS:GLNCY) was downgraded by research analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts have also recently issued reports on the company. Barclays reaffirmed an “overweight” rating on shares of Glencore in a research report on Monday, December 8th. Royal Bank Of Canada reissued an “outperform” rating on shares of Glencore in a research report on Thursday, January 8th. UBS Group downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. HSBC cut Glencore to a “hold” rating in a research report on Monday. Finally, Berenberg Bank raised Glencore from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Trading Up 2.7%

OTCMKTS:GLNCY opened at $13.95 on Monday. The stock’s 50 day moving average price is $10.94 and its 200 day moving average price is $9.43. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.58 and a current ratio of 1.15. Glencore has a 52 week low of $5.74 and a 52 week high of $13.98.

Glencore Company Profile

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.