Glencore (OTCMKTS:GLNCY) Reaches New 12-Month High – What’s Next?

Glencore PLC (OTCMKTS:GLNCY)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $13.44 and last traded at $13.36, with a volume of 366035 shares. The stock had previously closed at $12.97.

Wall Street Analysts Forecast Growth

GLNCY has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research note on Tuesday, December 16th. UBS Group downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Citigroup restated a “buy” rating on shares of Glencore in a research note on Friday, September 26th. Sanford C. Bernstein cut shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Finally, Barclays reiterated an “overweight” rating on shares of Glencore in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Trading Up 3.1%

The company has a debt-to-equity ratio of 0.87, a current ratio of 1.15 and a quick ratio of 0.58. The company has a 50 day moving average of $10.54 and a 200 day moving average of $9.24.

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.