Glencore (OTCMKTS:GLNCY) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a report issued on Monday, Zacks.com reports.
According to Zacks, "Glencore Plc operates as a diversified natural resource company. It operates in three groups: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in mining, smelting, refining, and warehousing copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore. The Energy Products segment includes controlled and non-controlled coal mining and oil production operations and investments in strategic handling, storage and freight equipment and facilities. The Agricultural Products segment focuses on grains, oils/oilseeds, cotton and sugar. The Company's operations consist of mining and metallurgical sites, offshore oil production assets, farms and agricultural facilities. It is a producer and marketer of commodities, such as mobile phones, bicycles, cutlery, plastics and electricity. Glencore Plc, formerly known as Glencore Xstrata PLC, is headquartered in Baar, Switzerland. "
A number of other brokerages also recently issued reports on GLNCY. UBS Group reissued a "buy" rating on shares of Glencore in a research note on Monday, December 7th. Morgan Stanley reissued an "overweight" rating on shares of Glencore in a research note on Thursday, December 10th. The Goldman Sachs Group downgraded Glencore from a "buy" rating to a "neutral" rating in a research note on Wednesday, January 13th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Glencore in a research note on Wednesday, February 17th. Finally, Barclays reissued an "overweight" rating on shares of Glencore in a research note on Thursday, January 14th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of "Buy" and a consensus target price of $9.00.
GLNCY traded up $0.25 during midday trading on Monday, hitting $8.52. 1,319,791 shares of the company were exchanged, compared to its average volume of 456,032. The firm has a market capitalization of $56.79 billion, a P/E ratio of 26.64 and a beta of 1.81. The company has a quick ratio of 0.47, a current ratio of 0.99 and a debt-to-equity ratio of 0.82. The firm's 50 day moving average price is $7.33 and its 200-day moving average price is $5.54. Glencore has a 1-year low of $2.51 and a 1-year high of $8.67.
Glencore plc produces, refines, processes, stores, transports, and markets metals and minerals, and energy products. It operates in two segments, Marketing Activities and Industrial Activities. The company produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.
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7 Stocks to Support Your New Year’s Resolutions
After a year like 2020, many Americans figure that just getting to 2021 was enough. But for many people, the start of a new year still means making resolutions. And while many Americans are still waking up to Groundhog’s Day, there is hope that things will look dramatically different in September than they do right now.
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View the "7 Stocks to Support Your New Year’s Resolutions".