Glencore plc (LON:GLEN) Receives GBX 660 Average PT from Analysts

Glencore plc (LON:GLEN) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is GBX 660.

A number of research firms recently commented on GLEN. JPMorgan Chase & Co. decreased their price target on Glencore from GBX 520 to GBX 510 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Berenberg Bank cut their price objective on Glencore from GBX 750 to GBX 740 and set a “buy” rating on the stock in a research note on Friday, August 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 600 target price on shares of Glencore in a report on Monday, July 27th. Citigroup lifted their target price on Glencore from GBX 770 to GBX 780 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 630 price target on shares of Glencore in a report on Thursday, August 6th.

Glencore Price Performance

GLEN opened at GBX 595.60 on Friday. The company has a market capitalization of £69.79 billion, a P/E ratio of 198.53, a PEG ratio of 0.43 and a beta of 0.51. The company has a 50-day moving average of GBX 542.15 and a 200-day moving average of GBX 547.26. The company has a debt-to-equity ratio of 108.47, a quick ratio of 0.32 and a current ratio of 1.06. Glencore has a 1-year low of GBX 281.93 and a 1-year high of GBX 621.40.

About Glencore

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.