Glencore PLC (OTCMKTS:GLNCY) Lifted to “Buy” at Zacks Investment Research

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.

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Analyst Recommendations for Glencore PLC (OTCMKTS:GLNCY)

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