Glencore (OTCMKTS:GLNCY) Given New GBX 730 Price Target at Morgan Stanley

Glencore (OTCMKTS:GLNCYGet Rating) had its price objective trimmed by Morgan Stanley from GBX 740 ($9.07) to GBX 730 ($8.94) in a research note published on Tuesday morning, The Fly reports.

A number of other analysts have also recently issued reports on GLNCY. Barclays upped their target price on Glencore from GBX 730 ($8.94) to GBX 770 ($9.44) in a research report on Wednesday, May 25th. Credit Suisse Group raised Glencore from a neutral rating to an outperform rating in a research report on Wednesday, July 6th. Deutsche Bank Aktiengesellschaft decreased their target price on Glencore from GBX 580 ($7.11) to GBX 560 ($6.86) in a research report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. upped their target price on Glencore from GBX 630 ($7.72) to GBX 640 ($7.84) in a research report on Tuesday, July 5th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Glencore presently has an average rating of Buy and an average target price of $660.00.

Glencore Stock Down 3.1 %

OTCMKTS:GLNCY opened at $10.85 on Tuesday. The stock has a 50-day simple moving average of $11.32 and a 200-day simple moving average of $11.86. Glencore has a 1 year low of $8.27 and a 1 year high of $14.00. The company has a quick ratio of 0.59, a current ratio of 1.17 and a debt-to-equity ratio of 0.75.

About Glencore

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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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