Glencore (LON:GLEN) Sets New 12-Month High – Here’s What Happened

Glencore plc (LON:GLEN) shares reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 534.23 and last traded at GBX 528.62, with a volume of 586134375 shares changing hands. The stock had previously closed at GBX 519.30.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLEN. Royal Bank Of Canada upped their target price on shares of Glencore from GBX 530 to GBX 540 and gave the company an “outperform” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. boosted their price objective on shares of Glencore from GBX 400 to GBX 450 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Finally, Berenberg Bank restated a “hold” rating and set a GBX 350 target price on shares of Glencore in a research report on Thursday, October 30th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Glencore has a consensus rating of “Moderate Buy” and a consensus price target of GBX 420.

Glencore Stock Performance

The company has a market cap of £62.38 billion, a PE ratio of -33.31, a P/E/G ratio of 0.43 and a beta of 1.21. The stock’s 50 day simple moving average is GBX 464.19 and its two-hundred day simple moving average is GBX 381.51. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14.

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.