Valued at $89.1 billion, Glencore Plc (GLNCY) is a diversified natural resource company. It operates in three groups: Metals and Minerals, Energy Products, and Agricultural Products. The stock has strong momentum and is trading at new all-time highs, notes Jim Van Meerten, analyst at Barchart.
The company’s operations consist of mining and metallurgical sites, offshore oil production assets, farms, and agricultural facilities. The Trend Seeker tool issued a new “Buy” signal on Feb. 9. Since then, the stock has gained 11.8%.
Glencore PLC (GLNCY)
Glencore has a Weighted Alpha of +133.2 and a 100% “Buy” opinion from Barchart. The stock has gained 124% over the past 52 weeks. The Relative Strength Index (RSI) is at 66.85 and there’s a technical support level around $15.12.
The Wall Street analysts followed by Barchart give the stock eight “Strong Buy,” one “Moderate Buy,” and five “Hold” opinions, with price targets between $12.90 and $16.20.
Bottom line: Glencore’s integrated mining and global commodities marketing model offers unique operational efficiencies and margin capture across many different commodities such as copper, cobalt, and zinc, as well as coal, oil, and agricultural products. But is at the mercy of current international uncertainty.
