Glencore (OTCMKTS:GLNCY) Rating Lowered to Hold at Freedom Capital

Glencore (OTCMKTS:GLNCY) was downgraded by analysts at Freedom Capital from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the company. Citigroup reiterated a “buy” rating on shares of Glencore in a report on Monday, April 13th. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research note on Thursday, April 9th. Zacks Research lowered Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Barclays reissued an “overweight” rating on shares of Glencore in a research note on Wednesday, February 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Glencore in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Trading Down 4.2%

Shares of GLNCY stock opened at $15.13 on Tuesday. The stock’s fifty day moving average is $15.37 and its 200-day moving average is $13.63. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.54 and a current ratio of 1.06. Glencore has a 52 week low of $7.40 and a 52 week high of $16.62.

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.