Glencore PLC (OTCMKTS:GLNCY) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Glencore PLC (OTCMKTS:GLNCY) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. Zacks Investment Research 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 lowered shares of Glencore PLC from a buy rating to a neutral rating in a research report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $10.00.

Shares of Glencore PLC (OTCMKTS:GLNCY) opened at 8.36 on Tuesday. The stock has a 50 day moving average of $8.18 and a 200 day moving average of $7.85. The firm has a market cap of $59.57 billion, a PE ratio of 43.09 and a beta of 2.06. Glencore PLC has a 1-year low of $4.46 and a 1-year high of $9.00.

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The business also recently disclosed a None dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, September 8th will be issued a $0.056 dividend. The ex-dividend date is Thursday, September 7th.

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