Glencore (OTCMKTS:GLNCY) Raised to “Strong-Buy” at Zacks Research

Glencore (OTCMKTS:GLNCY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Glencore in a research note on Friday, January 30th. HSBC raised shares of Glencore from a “hold” rating to a “buy” rating in a research note on Tuesday, April 14th. UBS Group raised shares of 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 note on Wednesday, February 4th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research note on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Glencore presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Stock Up 1.7%

GLNCY opened at $15.96 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 0.54. The company’s 50 day simple moving average is $14.67 and its two-hundred day simple moving average is $12.53. Glencore has a 1-year low of $6.96 and a 1-year high of $16.02.

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.