Glencore (OTCMKTS:GLNCY) Stock Rating Lowered by Zacks Research

Glencore (OTCMKTS:GLNCY) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday, Zacks reports.

Several other research firms also recently issued reports on GLNCY. Freedom Capital downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. The Goldman Sachs Group raised Glencore from a “hold” rating to a “buy” rating in a research note on Thursday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a research report on Thursday, July 2nd. Barclays reissued an “overweight” rating on shares of Glencore in a research report on Tuesday, July 7th. Finally, Citigroup restated a “buy” rating on shares of Glencore in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Price Performance

Shares of Glencore stock opened at $14.64 on Monday. The stock has a 50-day simple moving average of $15.31 and a 200-day simple moving average of $14.95. Glencore has a 52-week low of $8.66 and a 52-week high of $17.05. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.77.

About Glencore

Glencore plc is a diversified natural resources company involved in the production, processing, marketing and distribution of commodities. Its activities span metals and minerals, energy products and agricultural products, serving industrial customers and consumers around the world through a global network of assets, offices and logistics operations.

The company produces and markets commodities including copper, cobalt, nickel, zinc, lead, ferroalloys and coal. It also participates in the marketing and distribution of crude oil, refined petroleum products and other energy-related commodities.