Glencore (OTCMKTS:GLNCY) Reaches New 52-Week Low – Here’s Why

Glencore plc (OTCMKTS:GLNCY) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $7.63 and last traded at $7.66, with a volume of 703060 shares trading hands. The stock had previously closed at $7.79.

Wall Street Analysts Forecast Growth

Several analysts have commented on GLNCY shares. BMO Capital Markets upgraded shares of Glencore from a “hold” rating to a “strong-buy” rating in a report on Monday, December 16th. Berenberg Bank raised shares of Glencore to a “strong-buy” rating in a research report on Tuesday, March 11th. Six equities research analysts have rated the stock with a strong buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Glencore Trading Down 1.7 %

The company has a quick ratio of 0.67, a current ratio of 1.30 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of $8.45 and a 200 day simple moving average of $9.38.

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, 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.