Glencore (OTCMKTS:GLNCY) Downgraded to Strong Sell Rating by Freedom Broker

Freedom Broker downgraded shares of Glencore (OTCMKTS:GLNCY) from a strong-buy rating to a strong sell rating in a report issued on Thursday morning,Zacks reports.

GLNCY has been the topic of a number of other research reports. Royal Bank Of Canada restated an “outperform” rating on shares of Glencore in a research note on Thursday, July 30th. Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research note on Monday, August 24th. Zacks Research raised shares of Glencore from a “strong sell” rating to a “hold” rating in a report on Friday, August 7th. Freedom Capital downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Glencore in a research note on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Price Performance

Shares of Glencore stock opened at $16.25 on Thursday. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average price of $14.73 and a 200 day moving average price of $14.77. Glencore has a 52 week low of $7.58 and a 52 week high of $16.62.

About Glencore

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.