Glencore (GLEN) Given “Overweight” Rating at JPMorgan Chase & Co.
Glencore (LON:GLEN)‘s stock had its “overweight” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Thursday. They currently have a GBX 470 ($6.37) price target on the natural resources company’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 15.44% from the stock’s previous close.
Several other research firms have also commented on GLEN. set a GBX 420 ($5.70) target price on Glencore and gave the company a “buy” rating in a research note on Tuesday, October 3rd. Deutsche Bank upped their target price on Glencore from GBX 430 ($5.83) to GBX 450 ($6.10) and gave the company a “buy” rating in a research note on Monday, January 15th. Liberum Capital reiterated a “sell” rating and issued a GBX 300 ($4.07) target price on shares of Glencore in a research note on Monday, November 27th. UBS Group set a GBX 380 ($5.15) target price on Glencore and gave the company a “neutral” rating in a research note on Tuesday, December 19th. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a GBX 445 ($6.03) target price on shares of Glencore in a research note on Wednesday, November 15th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the stock. Glencore currently has a consensus rating of “Buy” and a consensus price target of GBX 399.48 ($5.42).
Glencore (LON GLEN) traded down GBX 0.10 ($0.00) during trading on Thursday, reaching GBX 407.15 ($5.52). The company had a trading volume of 39,680,526 shares, compared to its average volume of 32,980,000. The firm has a market capitalization of $58,570.00 and a price-to-earnings ratio of 3,701.36. Glencore has a 52-week low of GBX 270 ($3.66) and a 52-week high of GBX 413 ($5.60).
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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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