Glencore (OTCMKTS:GLNCY) Shares Gap Up - Here's Why

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $7.43, but opened at $7.82. Glencore shares last traded at $7.80, with a volume of 78,696 shares changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank upgraded shares of Glencore to a "strong-buy" rating in a report on Tuesday, March 11th. Six equities research analysts have rated the stock with a strong buy rating, According to MarketBeat, the stock has an average rating of "Strong Buy".

Glencore Stock Down 1.0%

The company has a quick ratio of 0.60, a current ratio of 1.20 and a debt-to-equity ratio of 0.77. The company's fifty day moving average price is $7.30 and its two-hundred day moving average price is $7.92.

Glencore Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, May 5th were issued a $0.085 dividend. This represents a dividend yield of 2.75%. The ex-dividend date was Friday, May 2nd.

About Glencore

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.