Glencore (OTCMKTS:GLNCY) Downgraded by HSBC to Hold
Glencore (OTCMKTS:GLNCY – Get Free Report) was downgraded by HSBC from a “buy” rating to a “hold” rating in a report issued on Wednesday.
A number of other equities analysts also recently commented on the stock. Credit Suisse Group reduced their price objective on shares of Glencore from GBX 550 ($7.05) to GBX 525 ($6.73) in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Glencore from GBX 620 ($7.95) to GBX 610 ($7.82) in a research note on Monday, April 24th. Morgan Stanley reduced their price target on Glencore from GBX 560 ($7.18) to GBX 550 ($7.05) in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Glencore from GBX 575 ($7.37) to GBX 560 ($7.18) in a research report on Monday, June 5th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $574.00.
Glencore Trading Down 2.1 %
Shares of OTCMKTS:GLNCY traded down $0.26 during trading hours on Wednesday, hitting $12.13. 148,638 shares of the company’s stock traded hands, compared to its average volume of 687,475. Glencore has a 1 year low of $9.63 and a 1 year high of $14.41. The business has a fifty day moving average price of $11.20 and a 200-day moving average price of $11.78. The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.
About Glencore
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, nickel, zinc, lead, 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.
www.ferroalloynet.com
