Zacks Investment Research upgraded shares of GLENCORE PLC/ADR (OTCMKTS:GLNCY) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. Zacks Investment Research currently has $5.00 price target on the energy company’s stock.
According to Zacks, “Glencore Plc operates as a diversified natural resource company. It operates in three groups: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in mining, smelting, refining, and warehousing copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore. The Energy Products segment includes controlled and non-controlled coal mining and oil production operations and investments in strategic handling, storage and freight equipment and facilities. The Agricultural Products segment focuses on grains, oils/oilseeds, cotton and sugar. The Company’s operations consist of mining and metallurgical sites, offshore oil production assets, farms and agricultural facilities. It is a producer and marketer of commodities, such as mobile phones, bicycles, cutlery, plastics and electricity. Glencore Plc, formerly known as Glencore Xstrata PLC, is headquartered in Baar, Switzerland. “
Several other brokerages have also weighed in on GLNCY. Royal Bank of Canada raised GLENCORE PLC/ADR from a sector perform rating to an outperform rating in a report on Tuesday, September 15th. Renaissance Capital upgraded shares of GLENCORE PLC/ADR from a hold rating to a buy rating in a research note on Friday, September 11th. JPMorgan Chase & Co. upgraded shares of GLENCORE PLC/ADR from an underweight rating to a neutral rating in a research note on Wednesday, October 7th. Goldman Sachs Group began coverage on shares of GLENCORE PLC/ADR in a report on Tuesday, July 14th. They set a buy rating on the stock. Finally, Morgan Stanley reaffirmed an overweight rating on shares of GLENCORE PLC/ADR in a report on Thursday, September 24th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $5.00.
Shares of OTCMKTS GLNCY opened at $4.18 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.47 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $4.40 and a two-hundred day simple moving average of $4.05. GLENCORE PLC/ADR has a 1-year low of $2.51 and a 1-year high of $6.66. The firm has a market cap of $30.48 billion, a price-to-earnings ratio of 13.06 and a beta of 1.72.
About GLENCORE PLC/ADR
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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