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Glencore PLC (GLNCY) Downgraded to “Hold” at Zacks Investment Research
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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 Corp cut shares of Glencore PLC from a buy rating to a neutral rating in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. Glencore PLC currently has a consensus rating of Buy and a consensus target price of $10.00.
Shares of Glencore PLC (OTCMKTS:GLNCY) opened at 9.07 on Tuesday. The stock has a 50 day moving average of $8.55 and a 200 day moving average of $7.91. The company has a market cap of $64.67 billion, a P/E ratio of 15.53 and a beta of 2.06. Glencore PLC has a 52-week low of $4.46 and a 52-week high of $9.10.
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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 $0.056 dividend. The ex-dividend date is Thursday, September 7th.
About Glencore PLC
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of commodities worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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