Jefferies Group Reiterates “Hold” Rating for Glencore PLC (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “hold” rating reiterated by Jefferies Group in a research note issued on Tuesday. They presently have a GBX 180 ($2.35) price objective on the natural resources company’s stock. Jefferies Group’s target price suggests a potential downside of 8.40% from the stock’s current price.
Other research analysts have also issued reports about the stock. Haitong Bank upgraded shares of Glencore PLC to a “buy” rating and lifted their price objective for the company from GBX 141 ($1.84) to GBX 194 ($2.53) in a research note on Thursday, June 30th. Canaccord Genuity upgraded shares of Glencore PLC to a “buy” rating and lifted their price objective for the company from GBX 200 ($2.61) to GBX 215 ($2.81) in a research note on Friday, July 22nd. Societe Generale raised shares of Glencore PLC to a “buy” rating and lifted their target price for the company from GBX 160 ($2.09) to GBX 230 ($3.00) in a report on Tuesday, August 2nd. RBC Capital Markets set a GBX 210 ($2.74) target price on shares of Glencore PLC and gave the company a “buy” rating in a report on Thursday, September 8th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a GBX 150 ($1.96) target price on shares of Glencore PLC in a report on Friday, June 10th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of GBX 171.18 ($2.23).
Glencore PLC (LON:GLEN) opened at 196.70 on Tuesday. The company’s 50 day moving average is GBX 186.97 and its 200 day moving average is GBX 160.45. Glencore PLC has a 52-week low of GBX 66.67 and a 52-week high of GBX 200.97. The firm’s market cap is GBX 27.99 billion.
Glencore PLC Company Profile
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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