Citigroup Inc. Reaffirms “Buy” Rating for Glencore PLC (GLEN)
Citigroup Inc. reissued their buy rating on shares of Glencore PLC (LON:GLEN) in a research report report published on Monday, MarketBeat.com reports. Citigroup Inc. currently has a GBX 400 ($5.26) target price on the natural resources company’s stock.
Several other brokerages have also recently commented on GLEN. UBS AG set a GBX 350 ($4.60) price target on Glencore PLC and gave the stock a buy rating in a research report on Thursday, August 10th. HSBC Holdings plc set a GBX 420 ($5.52) price target on Glencore PLC and gave the stock a buy rating in a research report on Tuesday, October 3rd. Jefferies Group LLC reiterated a buy rating and set a GBX 380 ($5.00) price target on shares of Glencore PLC in a research report on Friday, July 28th. Goldman Sachs Group, Inc. (The) set a GBX 400 ($5.26) price target on Glencore PLC and gave the stock a buy rating in a research report on Thursday, August 17th. Finally, Barclays PLC reiterated an overweight rating and set a GBX 400 ($5.26) price target on shares of Glencore PLC in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of GBX 374.58 ($4.92).
Glencore PLC (LON:GLEN) opened at 365.00 on Monday. Glencore PLC has a 12-month low of GBX 218.50 and a 12-month high of GBX 374.70. The company has a 50 day moving average of GBX 355.79 and a 200-day moving average of GBX 318.86. The stock’s market capitalization is GBX 52.05 billion.
In related news, insider Martin J. Gilbert purchased 50,000 shares of Glencore PLC stock in a transaction on Thursday, August 10th. The shares were bought at an average price of GBX 338 ($4.44) per share, with a total value of £169,000 ($222,193.01).
Glencore PLC Company Profile
Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.
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