Glencore (OTCMKTS:GLNCY) Hits New 1-Year High - Still a Buy?

Key Points

• Glencore hit a new 52-week high, trading as high as $15.44 and last at $15.36 on volume around 4.51 million shares, up roughly 2% and trading above its 50‑day and 200‑day moving averages ($14.44 and $12.16).
• Analysts are broadly positive—HSBC upgraded to Buy and several firms reaffirmed buy/overweight ratings—resulting in a MarketBeat consensus of Moderate Buy, but the average price target is only $9.30, well below the current share price.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $15.44 and last traded at $15.36, with a volume of 4509849 shares. The stock had previously closed at $15.14.

Analysts Set New Price Targets

Several research firms recently issued reports on GLNCY. Barclays reaffirmed an "overweight" rating on shares of Glencore in a research note on Wednesday, February 25th. HSBC raised shares of Glencore from a "hold" rating to a "buy" rating in a research note on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Glencore in a research note on Friday, January 30th. Morgan Stanley reaffirmed an "overweight" rating on shares of Glencore in a research note on Thursday, April 9th. Finally, Citigroup reaffirmed a "buy" rating on shares of Glencore in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Glencore has a consensus rating of "Moderate Buy" and an average price target of $9.30.

Glencore Trading Up 2.0%

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 firm has a fifty day simple moving average of $14.44 and a 200-day simple moving average of $12.16.

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.

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