Glencore (OTCMKTS:GLNCY) Sets New 1-Year Low – What’s Next?

Glencore plc (OTCMKTS:GLNCY) shares hit a new 52-week low on Tuesday . The company traded as low as $8.66 and last traded at $8.94, with a volume of 589528 shares trading hands. The stock had previously closed at $8.88.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GLNCY shares. Hsbc Global Res upgraded shares of Glencore from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. BMO Capital Markets raised Glencore from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Finally, Barclays upgraded Glencore to a “strong-buy” rating in a research report on Wednesday, October 16th. Five analysts have rated the stock with a strong buy rating, Based on data from MarketBeat.com, Glencore currently has an average rating of “Strong Buy”.

Glencore Stock Performance

The company’s 50-day moving average price is $9.79 and its 200-day moving average price is $10.55.

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.