Zacks Investment Research upgraded shares of Glencore (OTCMKTS:GLNCY) from a hold rating to a buy rating in a research report released on Monday morning, Zacks.com reports. Zacks Investment Research currently has $9.00 price objective 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. “
GLNCY has been the subject of a number of other research reports. Morgan Stanley restated an overweight rating on shares of Glencore in a report on Wednesday, March 24th. UBS Group restated a buy rating on shares of Glencore in a report on Thursday, March 4th. Royal Bank of Canada reissued an outperform rating on shares of Glencore in a research report on Wednesday, March 3rd. JPMorgan Chase & Co. reissued an overweight rating on shares of Glencore in a research report on Friday, March 5th. Finally, The Goldman Sachs Group downgraded Glencore from a buy rating to a neutral rating in a research report on Wednesday, January 13th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $9.00.
The company also recently declared a dividend, which will be paid on Monday, June 7th. Stockholders of record on Friday, April 23rd will be issued a $0.12 dividend. This represents a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, April 22nd.
Glencore Company Profile
Glencore plc produces, refines, processes, stores, transports, and markets 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 produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.
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