Jefferies Financial Group Reiterates “Buy” Rating for Glencore (LON:GLEN)

Jefferies Financial Group reissued their buy rating on shares of Glencore (LON:GLEN) in a research note published on Wednesday, Marketbeat Ratings reports. They currently have a GBX 550 ($6.91) price target on the natural resources company’s stock.

Separately, Barclays reissued an equal weight rating and issued a GBX 515 ($6.47) price objective on shares of Glencore in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of GBX 546.25 ($6.86).

Glencore Price Performance

Glencore stock opened at GBX 455 ($5.72) on Wednesday. The stock has a market cap of £55.28 billion, a price-to-earnings ratio of 1,685.19, a price-to-earnings-growth ratio of 0.43 and a beta of 1.32. The company has a debt-to-equity ratio of 85.91, a current ratio of 1.29 and a quick ratio of 0.32. Glencore has a 1 year low of GBX 365.31 ($4.59) and a 1 year high of GBX 491.65 ($6.18). The firm has a 50-day moving average of GBX 436.35 and a two-hundred day moving average of GBX 436.38.

Glencore Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 29th will be given a $0.07 dividend. The ex-dividend date is Thursday, August 29th. This represents a dividend yield of 1.32%. Glencore’s payout ratio is presently 3,703.70%.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.