Zacks Investment Research upgraded shares of Glencore PLC (OTCMKTS:GLNCY) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $10.00 price target on the energy company’s stock.
According to Zacks, “Glencore Plc operates as a diversified natural resource company. It operates in three groups: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in mining, smelting, refining, and warehousing copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore. The Energy Products segment includes controlled and non-controlled coal mining and oil production operations and investments in strategic handling, storage and freight equipment and facilities. The Agricultural Products segment focuses on grains, oils/oilseeds, cotton and sugar. The Company’s operations consist of mining and metallurgical sites, offshore oil production assets, farms and agricultural facilities. It is a producer and marketer of commodities, such as mobile phones, bicycles, cutlery, plastics and electricity. Glencore Plc, formerly known as Glencore Xstrata PLC, is headquartered in Baar, Switzerland. “
Separately, Bank of America Corporation cut Glencore PLC from a buy rating to a neutral rating in a research note on Monday, June 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Glencore PLC has a consensus rating of Buy and a consensus price target of $10.00.
Shares of Glencore PLC (OTCMKTS GLNCY) opened at 8.48 on Tuesday. The firm’s 50-day moving average price is $8.15 and its 200 day moving average price is $7.85. Glencore PLC has a one year low of $4.46 and a one year high of $9.00. The stock has a market cap of $60.42 billion, a P/E ratio of 43.71 and a beta of 2.06.
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The firm also recently announced a None dividend, which will be paid on Wednesday, October 11th. Stockholders of record on Friday, September 8th will be given a dividend of $0.056 per share. The ex-dividend date is Thursday, September 7th.
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