Brokerages Set Glencore PLC (GLEN) Target Price at $422.68
Shares of Glencore PLC (LON:GLEN) have been assigned an average rating of “Buy” from the twenty-two analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is GBX 422.68 ($5.84).
Several equities analysts recently issued reports on the company. UBS set a GBX 380 ($5.25) price objective on Glencore and gave the stock a “neutral” rating in a research note on Wednesday, March 14th. Credit Suisse Group restated an “outperform” rating and set a GBX 470 ($6.49) price objective on shares of Glencore in a research note on Tuesday, March 13th. Barclays set a GBX 450 ($6.22) price objective on Glencore and gave the stock a “buy” rating in a research note on Monday, March 12th. Royal Bank of Canada set a GBX 470 ($6.49) price objective on Glencore and gave the stock a “buy” rating in a research note on Monday, March 5th. Finally, Goldman Sachs raised their price objective on Glencore from GBX 460 ($6.36) to GBX 520 ($7.18) and gave the stock a “conviction-buy” rating in a research note on Wednesday, March 14th.
Glencore (LON GLEN) traded down GBX 3.20 ($0.04) during mid-day trading on Friday, hitting GBX 373.50 ($5.16). 36,514,584 shares of the stock were exchanged, compared to its average volume of 46,120,000. Glencore has a twelve month low of GBX 270 ($3.73) and a twelve month high of GBX 416.91 ($5.76). The firm has a market capitalization of $55,610.00 and a P/E ratio of 1,245.00.
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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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