Glencore PLC (GLEN) Downgraded by Haitong Bank to “Neutral”
Haitong Bank downgraded shares of Glencore PLC (LON:GLEN) to a neutral rating in a research report sent to investors on Monday morning. Haitong Bank currently has GBX 190 ($2.48) price objective on the natural resources company’s stock, down from their previous price objective of GBX 194 ($2.53).
GLEN has been the subject of several other reports. Goldman Sachs Group Inc. set a GBX 150 ($1.96) price objective on Glencore PLC and gave the company a neutral rating in a research note on Friday, August 26th. RBC Capital Markets set a GBX 210 ($2.74) target price on Glencore PLC and gave the stock a buy rating in a research note on Thursday, September 8th. Societe Generale increased their target price on Glencore PLC from GBX 230 ($3.00) to GBX 240 ($3.13) and gave the stock a buy rating in a research note on Wednesday, September 14th. Jefferies Group cut their target price on Glencore PLC from GBX 200 ($2.61) to GBX 180 ($2.35) and set a hold rating for the company in a research note on Tuesday, August 30th. Finally, Macquarie reissued a neutral rating and set a GBX 200 ($2.61) target price on shares of Glencore PLC in a research note on Monday, September 5th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. Glencore PLC currently has an average rating of Hold and an average target price of GBX 171.18 ($2.23).
Shares of Glencore PLC (LON:GLEN) opened at 198.05 on Monday. The stock’s market cap is GBX 28.18 billion. Glencore PLC has a 1-year low of GBX 66.67 and a 1-year high of GBX 200.97. The firm has a 50-day moving average price of GBX 186.97 and a 200-day moving average price of GBX 160.45.
About Glencore PLC
Glencore plc is an integrated producer and marketer of natural resources, with activities in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products and agricultural products. The Company’s segments include metals and minerals, energy products, agricultural products, and corporate and other.
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