Glencore (OTCMKTS:GLNCY) Hits New 1-Year Low – Here’s What Happened

Glencore plc (OTCMKTS:GLNCY)’s stock price reached a new 52-week low during trading on Tuesday . The stock 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 Ratings Changes

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

Glencore Price Performance

The stock’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.