Glencore (OTCMKTS:GLNCY) Sets New 1-Year High – Should You Buy?

Glencore PLC (OTCMKTS:GLNCY) reached a new 52-week high on Tuesday . The company traded as high as $10.98 and last traded at $10.8650, with a volume of 115124 shares trading hands. The stock had previously closed at $10.69.

Analysts Set New Price Targets

Several analysts have weighed in on GLNCY shares. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Friday, September 26th. UBS Group lowered shares of Glencore from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 12th. Barclays reissued an “overweight” rating on shares of Glencore in a report on Monday, December 8th. Sanford C. Bernstein downgraded Glencore from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 22nd. Finally, Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research note on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Price Performance

The stock has a fifty day simple moving average of $9.69 and a 200-day simple moving average of $8.77. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.58 and a current ratio of 1.15.

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.