Glencore (OTCMKTS:GLNCY) Shares Gap Up - Time to Buy?

Key Points

• Glencore shares gapped up from $7.70 to $8.18 at the opening of trading, last trading at $8.15 with a volume of 108,909 shares.
• Analysts have mixed opinions on Glencore, with Citigroup maintaining a "buy" rating, while Goldman Sachs downgraded it to "neutral"; the overall consensus rating is "Strong Buy."
• The company declared a dividend of $0.085 per share, scheduled for payment on October 3rd, representing a substantial dividend yield of 210.0%.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $7.70, but opened at $8.18. Glencore shares last traded at $8.15, with a volume of 108,909 shares.

Analyst Upgrades and Downgrades

GLNCY has been the subject of a number of research reports. Citigroup restated a "buy" rating on shares of Glencore in a research note on Thursday, August 14th. The Goldman Sachs Group cut shares of Glencore to a "neutral" rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

Glencore Stock Performance

The business's 50-day moving average is $8.03 and its 200 day moving average is $7.61. 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 Dividend Announcement

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

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.