Glencore (LON:GLEN) Reaches New 12-Month High – Still a Buy?

Glencore plc (LON:GLEN)’s share price hit a new 52-week high on Wednesday . The company traded as high as GBX 534.23 and last traded at GBX 528.62, with a volume of 586134375 shares traded. The stock had previously closed at GBX 519.30.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Royal Bank Of Canada raised their target price on Glencore from GBX 530 to GBX 540 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Berenberg Bank reissued a “hold” rating and issued a GBX 350 price objective on shares of Glencore in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. upped their target price on Glencore from GBX 400 to GBX 450 and gave the stock a “neutral” rating in a research note on Wednesday, December 3rd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 420.

Glencore Trading Up 1.6%

The company has a 50 day simple moving average of GBX 470.17 and a 200 day simple moving average of GBX 383.57. The company has a market capitalization of £62.48 billion, a PE ratio of -33.36, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30.

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.