Glencore (OTCMKTS:GLNCY) Shares Gap Down – Here’s What Happened

Glencore PLC (OTCMKTS:GLNCY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $14.05, but opened at $13.33. Glencore shares last traded at $13.6150, with a volume of 305,867 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GLNCY. Freedom Capital cut shares of Glencore from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Zacks Research lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Citigroup reissued a “buy” rating on shares of Glencore in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a research report on Friday, May 15th. Finally, HSBC upgraded Glencore from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Stock Up 1.3%

The firm’s fifty day simple moving average is $15.27 and its 200 day simple moving average is $13.82. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84.

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.