Brokerages Set Glencore PLC (OTCMKTS:GLNCY) Target Price at $9.30

Shares of Glencore PLC (OTCMKTS:GLNCY) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $9.30.

Several research firms have recently weighed in on GLNCY. Freedom Capital lowered Glencore from a “strong-buy” rating to a “hold” rating in a research note 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 reaffirmed a “buy” rating on shares of Glencore in a research report on Monday, April 13th. HSBC upgraded shares of Glencore from a “hold” rating to a “buy” rating in a research note on Tuesday, April 14th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research note on Thursday, April 9th.

Glencore Stock Up 1.3%

Shares of GLNCY opened at $13.61 on Friday. Glencore has a twelve month low of $7.44 and a twelve month high of $16.62. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 0.84. The stock’s fifty day simple moving average is $15.13 and its 200 day simple moving average is $13.94.

About Glencore

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.