Glencore PLC (ADR) (OTC:GLNCY) Stock Upgrade
JP Morgan gave Glencore PLC (ADR) (OTC:GLNCY) shares a new “Overweight” rating in a note distributed on 15 December. The upgrade from the old “Neutral” rating is certainly an interesting one.
From a total of 7 analysts covering Glencore PLC (ADR) (OTC:GLNCY) stock, 2 rate it a ”Buy”, 1 a “Sell”, and 4 a ”Hold”. This means that 29% of the ratings are positive. Glencore PLC (ADR) was the topic of 8 analyst reports since September 9, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets initiated shares on December 3 with “Sector Perform” rating. Morgan Stanley reinitiated GLNCY stock in a recent report from September 18 with “Equal-Weight” rating. Finally, JP Morgan upgraded the stock to “Neutral” rating in a report issued on a September 9.
Approximately 18.71 million shares of stock traded hands or 1776.66% up from the average. Glencore International PLC, St. Helier (OTC:GLNCY) has declined 73.89% since May 12, 2015 and is downtrending. It has underperformed by 70.21% the S&P500.
According to Zacks Investment Research, “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.”