Glencore (OTCMKTS:GLNCY) Reaches New 52-Week High – Time to Buy?

Shares of Glencore PLC (OTCMKTS:GLNCY) reached a new 52-week high on Tuesday . The stock traded as high as $13.8150 and last traded at $13.58, with a volume of 570863 shares traded. The stock had previously closed at $13.62.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on GLNCY shares. Sanford C. Bernstein lowered Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. HSBC lowered shares of Glencore to a “hold” rating in a research report on Monday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Glencore in a research report on Thursday, January 8th. Barclays reissued an “overweight” rating on shares of Glencore in a research report on Monday, December 8th. Finally, UBS Group lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Glencore presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Trading Down 0.3%

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 stock has a 50 day moving average of $10.85 and a 200-day moving average of $9.39.

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.