Glencore (OTCMKTS:GLNCY) Sees Strong Trading Volume – What’s Next?

Glencore PLC (OTCMKTS:GLNCY) shares saw unusually-high trading volume on Thursday . Approximately 1,307,943 shares changed hands during trading, an increase of 32% from the previous session’s volume of 993,876 shares.The stock last traded at $13.05 and had previously closed at $13.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citigroup reissued a “buy” rating on shares of Glencore in a report on Friday, September 26th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Glencore in a report on Thursday, January 8th. UBS Group cut shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 12th. Berenberg Bank upgraded shares of Glencore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Glencore in a research report on Tuesday, December 16th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Glencore Stock Down 2.0%

The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 0.87. The business’s 50-day simple moving average is $10.62 and its 200-day simple moving average is $9.27.

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.