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

Shares of Glencore PLC (OTCMKTS:GLNCY) have been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $9.30.

GLNCY has been the topic of several recent analyst reports. UBS Group raised Glencore to a “hold” rating in a research note on Monday, February 9th. Royal Bank Of Canada reissued an “outperform” rating on shares of Glencore in a research report on Wednesday, February 4th. Barclays restated an “overweight” rating on shares of Glencore in a report on Wednesday, February 25th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research note on Wednesday, January 28th. Finally, HSBC cut shares of Glencore to a “hold” rating in a research report on Monday, January 26th.

Glencore Price Performance

Shares of Glencore stock opened at $13.73 on Friday. The stock has a 50 day moving average of $13.62 and a 200 day moving average of $10.97. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84. Glencore has a fifty-two week low of $5.74 and a fifty-two week high of $14.67.

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.