Glencore (OTCMKTS:GLNCY) Hits New 52-Week High – Should You Buy?

Glencore PLC (OTCMKTS:GLNCY)’s stock price reached a new 52-week high on Monday . The stock traded as high as $11.3210 and last traded at $11.27, with a volume of 136876 shares trading hands. The stock had previously closed at $11.02.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. UBS Group lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Barclays reiterated an “overweight” rating on shares of Glencore in a report on Monday, December 8th. Citigroup reissued a “buy” rating on shares of Glencore in a report on Friday, September 26th. Berenberg Bank upgraded Glencore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Finally, Sanford C. Bernstein cut Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Price Performance

The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.87. The company’s 50 day simple moving average is $9.83 and its 200 day simple moving average is $8.86.

Glencore Company Profile

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.