Glencore (OTCMKTS:GLNCY) Hits New 1-Year High – Time to Buy?

Glencore PLC (OTCMKTS:GLNCY)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $17.00 and last traded at $17.00, with a volume of 41300 shares traded. The stock had previously closed at $16.25.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. The Goldman Sachs Group raised shares of Glencore from a “hold” rating to a “buy” rating in a research report on Thursday, July 9th. Zacks Research raised Glencore from a “strong sell” rating to a “hold” rating in a research report on Friday, August 7th. Freedom Capital cut Glencore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a report on Thursday, July 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Glencore in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.30.

Glencore Price 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 stock has a 50-day moving average of $14.78 and a two-hundred day moving average of $14.80.

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.