Glencore (OTCMKTS:GLNCY) Hits New 12-Month Low – Should You Sell?

Glencore plc (OTCMKTS:GLNCY)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $8.66 and last traded at $8.94, with a volume of 589528 shares. The stock had previously closed at $8.88.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GLNCY. Barclays upgraded Glencore to a “strong-buy” rating in a report on Wednesday, October 16th. BMO Capital Markets upgraded shares of Glencore from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Finally, Hsbc Global Res raised shares of Glencore from a “hold” rating to a “strong-buy” rating in a report on Monday, October 28th. Five research analysts have rated the stock with a strong buy rating, According to MarketBeat, the company has a consensus rating of “Strong Buy”.

Glencore Trading Up 0.7 %

The firm has a fifty day simple moving average of $9.79 and a 200-day simple moving average of $10.55.

Glencore Company Profile

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.