Glencore (OTCMKTS:GLNCY) Shares Gap Down - Time to Sell?

Key Points

• Glencore shares gapped down from a prior closing price of $8.08 to open at $7.86 on Monday, with the latest trade at $7.84.
• Goldman Sachs downgraded Glencore to a "neutral" rating, while Citigroup maintained a "buy" rating; overall, the stock carries an average rating of "Strong Buy."
• The company's financial ratios indicate a quick ratio of 0.60 and a current ratio of 1.20, reflecting its liquidity position.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $8.08, but opened at $7.86. Glencore shares last traded at $7.84, with a volume of 30,487 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GLNCY. Citigroup reissued a "buy" rating on shares of Glencore in a research note on Thursday, August 14th. The Goldman Sachs Group downgraded shares of Glencore to a "neutral" rating in a research note on Thursday, August 7th. Four investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Strong Buy".

Glencore Stock Up 0.8%

The company's 50 day moving average price is $8.02 and its two-hundred day moving average price is $7.68. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.60 and a current ratio of 1.20.

Glencore Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 1st will be paid a dividend of $0.085 per share. This represents a dividend yield of 210.0%. The ex-dividend date of this dividend is Friday, August 29th.

Glencore Company Profile

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.