Glencore (LON:GLEN) had its price objective lowered by Macquarie from GBX 290 ($3.79) to GBX 260 ($3.40) in a research report sent to investors on Monday, ThisIsMoney.Co.Uk reports. The brokerage currently has a neutral rating on the natural resources company’s stock.
A number of other brokerages have also recently issued reports on GLEN. Credit Suisse Group set a GBX 390 ($5.10) price objective on Glencore and gave the company a buy rating in a research note on Monday, August 5th. Jefferies Financial Group set a GBX 275 ($3.59) price objective on Glencore and gave the company a buy rating in a research note on Thursday, August 8th. UBS Group reaffirmed a neutral rating and set a GBX 280 ($3.66) price objective on shares of Glencore in a research note on Thursday, August 8th. Royal Bank of Canada reaffirmed a sector performer rating on shares of Glencore in a research note on Thursday, August 8th. Finally, Societe Generale cut Glencore to a hold rating and reduced their price objective for the company from GBX 330 ($4.31) to GBX 295 ($3.85) in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of GBX 308.06 ($4.03).
Shares of LON:GLEN opened at GBX 222.15 ($2.90) on Monday. The stock’s 50-day moving average price is GBX 260.60 and its 200-day moving average price is GBX 288.24. Glencore has a 12-month low of GBX 220.36 ($2.88) and a 12-month high of GBX 343.60 ($4.49). The stock has a market capitalization of $30.23 billion and a P/E ratio of 32.20. The company has a current ratio of 1.05, a quick ratio of 0.53 and a debt-to-equity ratio of 86.25.
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. 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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