Glencore (OTCMKTS:GLNCY) Downgraded to Hold Rating by Sanford C. Bernstein

Glencore (OTCMKTS:GLNCY) was downgraded by equities researchers at Sanford C. Bernstein from a “strong-buy” rating to a “hold” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also commented on GLNCY. Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research report on Wednesday, October 8th. The Goldman Sachs Group lowered Glencore to a “neutral” rating in a research report on Thursday, August 7th. Berenberg Bank set a $9.30 price target on Glencore in a research note on Wednesday, October 8th. Finally, Citigroup reissued a “buy” rating on shares of Glencore in a research note on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Glencore has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Trading Down 0.8%

Shares of GLNCY opened at $9.01 on Wednesday. The business’s fifty day moving average price is $8.52 and its two-hundred day moving average price is $7.84. Glencore has a 52 week low of $5.74 and a 52 week high of $10.82.

Glencore Company Profile

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.