Glencore PLC (OTCMKTS:GLNCY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage currently has a $10.00 target price on the energy company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.04% from the stock’s previous close.
According to Zacks, “Glencore Plc operates as a diversified natural resource company. It operates in three groups: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in mining, smelting, refining, and warehousing copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore. The Energy Products segment includes controlled and non-controlled coal mining and oil production operations and investments in strategic handling, storage and freight equipment and facilities. The Agricultural Products segment focuses on grains, oils/oilseeds, cotton and sugar. The Company’s operations consist of mining and metallurgical sites, offshore oil production assets, farms and agricultural facilities. It is a producer and marketer of commodities, such as mobile phones, bicycles, cutlery, plastics and electricity. Glencore Plc, formerly known as Glencore Xstrata PLC, is headquartered in Baar, Switzerland. “
Separately, Bank of America Corporation downgraded Glencore PLC from a “buy” rating to a “neutral” rating in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $10.00.
Shares of Glencore PLC (OTCMKTS GLNCY) traded down 0.833% on Tuesday, reaching $8.925. The company had a trading volume of 136,865 shares. Glencore PLC has a 52-week low of $4.46 and a 52-week high of $8.97. The firm has a market capitalization of $63.59 billion, a PE ratio of 46.005 and a beta of 2.06. The company has a 50-day moving average price of $7.95 and a 200-day moving average price of $7.82.
COPYRIGHT VIOLATION NOTICE: This piece of content was published by BBNS and is the sole property of of BBNS. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://baseballnewssource.com/markets/glencore-plc-otcmktsglncy-lifted-to-buy-at-zacks-investment-research/1410038.html.
Receive News & Ratings for Glencore PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glencore PLC and related companies with our FREE daily email newsletter.