Glencore (OTCMKTS:GLNCY) Shares Gap Down – Here’s What Happened

Glencore PLC (OTCMKTS:GLNCY)’s share price gapped down prior to trading on Friday . The stock had previously closed at $17.00, but opened at $16.31. Glencore shares last traded at $16.40, with a volume of 46,765 shares.

Analysts Set New Price Targets

GLNCY has been the subject of several research reports. Barclays reaffirmed an “overweight” rating on shares of Glencore in a report on Tuesday, July 7th. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a report on Monday, August 24th. Freedom Broker downgraded Glencore from a “strong-buy” rating to a “strong sell” rating in a research note on Thursday, September 3rd. Freedom Capital lowered Glencore from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, The Goldman Sachs Group upgraded Glencore from a “hold” rating to a “buy” rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Glencore has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Stock Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 0.56. The company’s 50-day moving average is $14.97 and its two-hundred day moving average is $14.86.

About Glencore

Glencore plc is a diversified natural resources company involved in the production, processing and marketing of commodities. Its products include copper, cobalt, zinc, nickel, ferroalloys, alumina, aluminum, coal and oil, as well as related energy products. The company also provides sourcing, logistics, storage and other marketing services that connect producers with industrial customers worldwide.

Glencore operates mines, metallurgical facilities, processing plants, refineries and other industrial assets across multiple regions, including Africa, Australia, Canada, Europe and South America.