Glencore (GLNCY) Rating Lowered to Hold at Zacks Investment Research

Glencore (OTCMKTS:GLNCY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

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. “

A number of other research firms have also recently commented on GLNCY. Deutsche Bank restated a “buy” rating on shares of Glencore in a research note on Thursday, February 15th. ValuEngine cut Glencore from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. UBS restated a “neutral” rating on shares of Glencore in a research note on Monday, March 5th. Finally, Royal Bank of Canada cut Glencore from a “top pick” rating to an “outperform” rating in a research note on Monday, April 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $11.00.

Glencore opened at $10.13 on Friday, according to MarketBeat Ratings. The company has a market capitalization of $77.03 billion, a PE ratio of 12.99 and a beta of 2.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.12 and a quick ratio of 0.58. Glencore has a 52 week low of $6.90 and a 52 week high of $11.68.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.

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