BMO Capital Markets Upgrades Glencore (OTCMKTS:GLNCY) to Strong-Buy

BMO Capital Markets upgraded shares of Glencore (OTCMKTS:GLNCY) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also weighed in on GLNCY. Hsbc Global Res raised Glencore from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 28th. Barclays upgraded shares of Glencore to a “strong-buy” rating in a research note on Wednesday, October 16th. Five analysts have rated the stock with a strong buy rating, According to MarketBeat, the company has a consensus rating of “Strong Buy”.

Glencore Stock Performance

GLNCY traded down $0.25 on Monday, reaching $8.89. 753,345 shares of the company traded hands, compared to its average volume of 629,581. Glencore has a 52-week low of $8.85 and a 52-week high of $12.74. The stock’s 50 day moving average price is $9.98 and its 200-day moving average price is $10.66.

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.