Glencore (OTCMKTS:GLNCY) Hits New 12-Month High – Here’s Why

Glencore PLC (OTCMKTS:GLNCY)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $15.5050 and last traded at $15.42, with a volume of 161237 shares trading hands. The stock had previously closed at $15.21.

Wall Street Analyst Weigh In

GLNCY has been the topic of several recent analyst reports. Barclays reissued an “overweight” rating on shares of Glencore in a report on Wednesday, February 25th. UBS Group raised Glencore to a “hold” rating in a research note on Monday, February 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Glencore in a report on Friday, January 30th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Glencore in a report on Wednesday, February 4th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Stock Up 1.0%

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 0.54. The company has a 50 day moving average price of $14.56 and a 200 day moving average price of $12.35.

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.