Glencore (LON:GLEN) was upgraded by analysts at Liberum Capital to a “buy” rating in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage presently has a GBX 270 ($3.55) price objective on the natural resources company’s stock, up from their prior price objective of GBX 220 ($2.89). Liberum Capital’s price objective would indicate a potential upside of 11.80% from the company’s previous close.
A number of other brokerages have also commented on GLEN. HSBC dropped their target price on Glencore from GBX 280 ($3.68) to GBX 275 ($3.62) and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. decreased their target price on Glencore from GBX 250 ($3.29) to GBX 230 ($3.03) and set an “underweight” rating on the stock in a research report on Tuesday, December 17th. Deutsche Bank increased their target price on Glencore from GBX 270 ($3.55) to GBX 275 ($3.62) and gave the company a “buy” rating in a research report on Thursday, January 9th. Royal Bank of Canada raised Glencore to an “outperform” rating and cut their target price for the stock from GBX 310 ($4.08) to GBX 290 ($3.81) in a research note on Monday, December 2nd. Finally, Morgan Stanley set a GBX 298 ($3.92) price objective on Glencore and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. Glencore has an average rating of “Buy” and a consensus price target of GBX 272.31 ($3.58).
Glencore stock traded up GBX 0.15 ($0.00) during trading hours on Tuesday, reaching GBX 241.50 ($3.18). The stock had a trading volume of 9,451,635 shares, compared to its average volume of 46,120,000. Glencore has a 52 week low of GBX 188.23 ($2.48) and a 52 week high of GBX 2,334.50 ($30.71). The company has a debt-to-equity ratio of 86.29, a current ratio of 1.05 and a quick ratio of 0.39. The company has a market cap of $32.24 billion and a price-to-earnings ratio of 38.95. The business’s 50 day moving average price is GBX 235.19 and its 200-day moving average price is GBX 244.51.
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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