Glencore plc (LON:GLEN) Receives Average Recommendation of “Moderate Buy” from Brokerages

Glencore plc (LON:GLEN) has received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is GBX 660.

GLEN has been the subject of several analyst reports. Citigroup boosted their price target on shares of Glencore from GBX 770 to GBX 780 and gave the company a “buy” rating in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 630 price objective on shares of Glencore in a report on Thursday, August 6th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 700 price objective on shares of Glencore in a research report on Monday, July 6th. Berenberg Bank reduced their target price on shares of Glencore from GBX 750 to GBX 740 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Glencore from GBX 520 to GBX 510 and set a “neutral” rating for the company in a research report on Thursday, July 30th.

Key Glencore News

Here are the key news stories impacting Glencore this week:

• Positive Sentiment: The stock recently moved above its 200-day moving average, a technical signal that may support investor confidence and indicate an improved longer-term trend. Glencore Share Price Passes Above 200 Day Moving Average
• Neutral Sentiment: Radiant World says Glencore assisted it when Jefferies investigated trades, while Glencore disputes Radiant’s broader allegations. The conflicting accounts make the eventual legal outcome difficult to assess. Radiant World says Glencore helped when Jefferies probed its trades
• Negative Sentiment: Radiant World has filed a Singapore lawsuit seeking approximately $2 billion, or about S$2.5 billion, from Glencore. The claim adds litigation risk and could result in a material cash cost if Radiant prevails. Radiant World seeks $2 billion from Glencore in lawsuit
• Negative Sentiment: Glencore has responded by accusing Radiant World of sending falsified invoices and fabricated emails to financial institutions. While the allegations could strengthen Glencore’s defense, they also highlight potentially costly legal, compliance and reputational issues surrounding the dispute. Glencore faces S$2.5 billion lawsuit as it alleges Radiant World fraud

Glencore Price Performance

Shares of LON GLEN opened at GBX 574.81 on Thursday. Glencore has a 1-year low of GBX 304.40 and a 1-year high of GBX 633.90. The company has a debt-to-equity ratio of 108.47, a current ratio of 1.06 and a quick ratio of 0.32. The business’s fifty day moving average price is GBX 563.16 and its two-hundred day moving average price is GBX 556.25. The firm has a market capitalization of £67.46 billion, a PE ratio of 12.77, a P/E/G ratio of 0.43 and a beta of 0.51.

Glencore Company Profile

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.