Glencore (GLEN) PT Lowered to GBX 370
Glencore (LON:GLEN) had its price objective lowered by equities research analysts at Deutsche Bank from GBX 390 ($5.10) to GBX 370 ($4.83) in a research note issued to investors on Wednesday, ThisIsMoney.Co.Uk reports. The brokerage presently has a “buy” rating on the natural resources company’s stock. Deutsche Bank’s price target points to a potential upside of 12.00% from the stock’s previous close.
A number of other research firms also recently issued reports on GLEN. Royal Bank of Canada downgraded shares of Glencore to a “sector performer” rating and decreased their price target for the company from GBX 350 ($4.57) to GBX 330 ($4.31) in a research note on Wednesday. Credit Suisse Group set a GBX 400 ($5.23) price target on shares of Glencore and gave the company a “buy” rating in a report on Friday, February 22nd. Goldman Sachs Group set a GBX 350 ($4.57) target price on shares of Glencore and gave the company a “buy” rating in a research report on Friday, February 1st. Macquarie reaffirmed an “outperform” rating and issued a GBX 370 ($4.83) price target on shares of Glencore in a report on Thursday, February 21st. Finally, Barclays restated an “overweight” rating on shares of Glencore in a research report on Monday, February 25th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of GBX 356.50 ($4.66).
Glencore stock opened at GBX 330.35 ($4.32) on Wednesday. Glencore has a 52-week low of GBX 268.35 ($3.51) and a 52-week high of GBX 409.80 ($5.35). The stock has a market cap of $45.29 billion and a price-to-earnings ratio of 13.76. The company has a quick ratio of 0.38, a current ratio of 1.10 and a debt-to-equity ratio of 77.26.
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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