Glencore PLC (GLEN) Rating Reiterated by Canaccord Genuity
Glencore PLC (LON:GLEN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Canaccord Genuity in a report issued on Friday. They currently have a GBX 375 ($4.88) price objective on the natural resources company’s stock. Canaccord Genuity’s price target points to a potential upside of 13.14% from the company’s current price.
Other equities analysts have also recently issued reports about the stock. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a GBX 365 ($4.75) price target (down from GBX 390 ($5.08)) on shares of Glencore PLC in a research note on Tuesday, April 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a GBX 380 ($4.95) price target on shares of Glencore PLC in a research note on Tuesday, April 18th. Shore Capital reaffirmed a “buy” rating on shares of Glencore PLC in a research note on Tuesday, May 23rd. UBS AG set a GBX 390 ($5.08) price target on shares of Glencore PLC and gave the stock a “buy” rating in a research note on Monday, June 12th. Finally, HSBC Holdings plc reaffirmed a “buy” rating and set a GBX 390 ($5.08) price target on shares of Glencore PLC in a research note on Tuesday, June 13th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Glencore PLC has an average rating of “Hold” and an average target price of GBX 343.04 ($4.47).
Shares of Glencore PLC (LON GLEN) opened at 320.65 on Friday. The firm’s market capitalization is GBX 45.69 billion. Glencore PLC has a 1-year low of GBX 171.50 and a 1-year high of GBX 348.25. The firm has a 50-day moving average of GBX 313.63 and a 200-day moving average of GBX 310.17.
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In other news, insider Martin J. Gilbert purchased 50,000 shares of Glencore PLC stock in a transaction dated Thursday, August 10th. The shares were bought at an average cost of GBX 338 ($4.40) per share, for a total transaction of £169,000 ($220,080.74).
About Glencore PLC
Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.
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