Glencore (OTCMKTS:GLNCY) Sets New 52-Week Low – Here’s Why

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

Analyst Ratings Changes

GLNCY has been the topic of a number of research analyst reports. BMO Capital Markets raised Glencore from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 16th. Hsbc Global Res upgraded shares of Glencore from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Finally, Barclays upgraded shares of Glencore to a “strong-buy” rating in a report on Wednesday, October 16th. Five investment analysts have rated the stock with a strong buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Glencore Price Performance

The business’s 50-day moving average price is $9.85 and its 200 day moving average price is $10.59.

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.