Glencore (LON:GLEN) Receives “Outperform” Rating from Royal Bank Of Canada

Glencore (LON:GLEN)‘s stock had its “outperform” rating reiterated by Royal Bank Of Canada in a report issued on Thursday,Digital Look reports. They currently have a GBX 600 target price on the natural resources company’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 17.92% from the company’s current price.

Several other research firms have also weighed in on GLEN. JPMorgan Chase & Co. lifted their price objective on Glencore from GBX 500 to GBX 560 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Jefferies Financial Group reissued a “buy” rating and set a GBX 720 target price on shares of Glencore in a research report on Tuesday, June 9th. Citigroup raised their price target on shares of Glencore from GBX 6,700 to GBX 7,700 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 780 price objective on shares of Glencore in a research note on Wednesday. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Glencore currently has an average rating of “Moderate Buy” and an average target price of GBX 1,790.

Glencore Price Performance

GLEN stock opened at GBX 508.80 on Thursday. The stock has a 50-day moving average price of GBX 566.64 and a two-hundred day moving average price of GBX 518.95. Glencore has a 12-month low of GBX 275.20 and a 12-month high of GBX 707.20. The company has a current ratio of 1.06, a quick ratio of 0.32 and a debt-to-equity ratio of 106.72. The company has a market cap of £59.61 billion, a PE ratio of 169.60, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51.

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.