Glencore (OTCMKTS:GLNCY) Sees Strong Trading Volume – Here’s What Happened

Shares of Glencore PLC (OTCMKTS:GLNCY) saw unusually-strong trading volume on Tuesday . Approximately 2,343,392 shares were traded during trading, an increase of 197% from the previous session’s volume of 790,178 shares.The stock last traded at $15.99 and had previously closed at $15.96.

Analysts Set New Price Targets

GLNCY has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Glencore in a research report on Thursday, July 2nd. Royal Bank Of Canada restated an “outperform” rating on shares of Glencore in a research report on Thursday, July 30th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Wednesday, August 12th. Barclays reiterated an “overweight” rating on shares of Glencore in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group raised Glencore from a “hold” rating to a “buy” rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Glencore Stock Performance

The company has a fifty day simple moving average of $14.53 and a 200-day simple moving average of $14.70. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.56 and a current ratio of 1.06.

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.