Barclays Reaffirms “Overweight” Rating for Glencore (GLEN)
Glencore (LON:GLEN)‘s stock had its “overweight” rating reiterated by research analysts at Barclays in a research report issued on Monday. They currently have a GBX 400 ($5.23) price objective on the natural resources company’s stock. Barclays’ target price would suggest a potential upside of 35.18% from the stock’s current price.
GLEN has been the subject of several other research reports. Royal Bank of Canada set a GBX 350 ($4.57) target price on Glencore and gave the company a “buy” rating in a research note on Thursday, November 1st. Liberum Capital upgraded Glencore to a “hold” rating and set a GBX 300 ($3.92) target price for the company in a research note on Friday, August 17th. Goldman Sachs Group set a GBX 400 ($5.23) target price on Glencore and gave the company a “buy” rating in a research note on Monday, November 12th. HSBC set a GBX 440 ($5.75) target price on Glencore and gave the company a “buy” rating in a research note on Wednesday, August 1st. Finally, Societe Generale decreased their target price on Glencore from GBX 420 ($5.49) to GBX 370 ($4.83) and set a “buy” rating for the company in a research note on Thursday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of GBX 393.57 ($5.14).
Shares of LON:GLEN opened at GBX 295.90 ($3.87) on Monday. Glencore has a twelve month low of GBX 270 ($3.53) and a twelve month high of GBX 416.91 ($5.45).
Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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