Glencore (OTCMKTS:GLNCY) Sees Large Volume Increase – Still a Buy?

Glencore PLC (OTCMKTS:GLNCY) shares saw unusually-strong trading volume on Thursday . Approximately 2,094,520 shares were traded during mid-day trading, an increase of 159% from the previous session’s volume of 808,287 shares.The stock last traded at $13.69 and had previously closed at $13.43.

Analyst Ratings Changes

A number of research firms have issued reports on GLNCY. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Glencore in a research note on Thursday, July 2nd. The Goldman Sachs Group raised Glencore from a “neutral” rating to a “buy” rating in a report on Thursday. Citigroup reiterated a “buy” rating on shares of Glencore in a research report on Monday, April 13th. HSBC raised Glencore from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. Finally, Freedom Capital downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Glencore has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Trading Up 1.9%

The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average of $15.02 and a 200 day moving average of $14.04.

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.