Glencore (OTCMKTS:GLNCY) Downgraded by Zacks Research to “Hold”

Glencore (OTCMKTS:GLNCY) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other research firms have also commented on GLNCY. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Glencore in a research note on Friday, May 15th. Barclays reiterated an “overweight” rating on shares of Glencore in a research note on Wednesday, February 25th. Citigroup reiterated a “buy” rating on shares of Glencore in a research note on Monday, April 13th. HSBC raised Glencore from a “hold” rating to a “buy” rating in a research report on Tuesday, April 14th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Glencore currently has a consensus rating of “Moderate Buy” and an average target price of $9.30.

Glencore Stock Up 5.3%

Glencore stock opened at $15.73 on Wednesday. The stock has a fifty day moving average price of $15.32 and a 200 day moving average price of $13.45. Glencore has a 52 week low of $7.40 and a 52 week high of $16.62. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84.

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.