Glencore (OTCMKTS:GLNCY) Sets New 1-Year Low – What’s Next?

Shares of Glencore plc (OTCMKTS:GLNCY) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $7.63 and last traded at $7.66, with a volume of 703060 shares. The stock had previously closed at $7.79.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLNCY. Berenberg Bank raised shares of Glencore to a “strong-buy” rating in a report on Tuesday, March 11th. BMO Capital Markets raised Glencore from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Six analysts have rated the stock with a strong buy rating, According to data from MarketBeat, Glencore presently has a consensus rating of “Strong Buy”.

Glencore Stock Down 2.1 %

The stock’s 50 day moving average is $8.38 and its two-hundred day moving average is $9.36. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.67 and a current ratio of 1.30.

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.