Glencore (OTCMKTS:GLNCY) Upgraded to Moderate Buy at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Glencore (OTCMKTS:GLNCY) to a moderate buy rating in a research note released on Thursday morning, Zacks.com reports.

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group raised shares of Glencore to a strong-buy rating in a report on Thursday. Citigroup raised shares of Glencore to a strong-buy rating in a research note on Thursday.

Glencore Stock Up 0.8 %

Shares of GLNCY stock opened at $10.29 on Thursday. The business has a fifty day simple moving average of $11.47 and a 200 day simple moving average of $11.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.66 and a current ratio of 1.29. Glencore has a twelve month low of $9.26 and a twelve month high of $12.74.

Glencore Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be given a $0.1105 dividend. The ex-dividend date of this dividend is Friday, August 30th.

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.