Glencore (LON:GLEN) Given New GBX 560 Price Target at JPMorgan Chase & Co.

Glencore (LON:GLEN) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from GBX 500 to GBX 560 in a research note issued to investors on Tuesday,London Stock Exchange reports. The brokerage currently has a “neutral” rating on the natural resources company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 3.99% from the company’s previous close.

Several other brokerages have also recently commented on GLEN. Citigroup boosted their price target on shares of Glencore from GBX 620 to GBX 670 and gave the stock a “buy” rating in a research report on Monday, April 13th. Royal Bank Of Canada boosted their price target on shares of Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 630 price target on shares of Glencore in a research report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 556.

Glencore Stock Performance

GLEN stock opened at GBX 583.30 on Tuesday. The company has a market capitalization of £68.34 billion, a P/E ratio of 194.43, a PEG ratio of 0.43 and a beta of 0.53. The company has a 50-day simple moving average of GBX 555.26 and a 200 day simple moving average of GBX 480.41. Glencore has a fifty-two week low of GBX 270.25 and a fifty-two week high of GBX 598. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 109.99.

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.