Glencore (OTCMKTS:GLNCY – Get Rating) had its price objective trimmed by Morgan Stanley from GBX 740 ($9.07) to GBX 730 ($8.94) in a report published on Tuesday morning, The Fly reports.
A number of other equities research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Glencore from GBX 580 ($7.11) to GBX 560 ($6.86) in a report on Wednesday, June 29th. Credit Suisse Group upgraded Glencore from a neutral rating to an outperform rating in a report on Wednesday, July 6th. Barclays increased their target price on Glencore from GBX 730 ($8.94) to GBX 770 ($9.44) in a report on Wednesday, May 25th. Finally, JPMorgan Chase & Co. increased their target price on Glencore from GBX 630 ($7.72) to GBX 640 ($7.84) in a report on Tuesday, July 5th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $660.00.
GLNCY opened at $10.85 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.59 and a current ratio of 1.17. The stock’s 50 day simple moving average is $11.32 and its 200 day simple moving average is $11.86. Glencore has a 1-year low of $8.27 and a 1-year high of $14.00.
About Glencore
Glencore plc produces, refines, processes, stores, transports, and markets 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 produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.
www.ferroalloynet.com
