Glencore (LON:GLEN) Price Target Raised to GBX 780

Glencore (LON:GLEN) had its target price increased by stock analysts at Citigroup from GBX 770 to GBX 780 in a note issued to investors on Wednesday,Digital Look reports. The brokerage presently has a “buy” rating on the natural resources company’s stock. Citigroup’s price target indicates a potential upside of 35.28% from the company’s current price.

GLEN has been the subject of several other reports. JPMorgan Chase & Co. lowered their price objective on shares of Glencore from GBX 520 to GBX 510 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 630 target price on shares of Glencore in a research note on Thursday, August 6th. Berenberg Bank lowered their price target on Glencore from GBX 750 to GBX 740 and set a “buy” rating for the company in a research report on Friday, August 7th. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 600 price target on shares of Glencore in a research note on Monday, July 27th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 700 price objective on shares of Glencore in a report on Monday, July 6th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 660.

Glencore Stock Up 0.4%

LON:GLEN opened at GBX 576.57 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.32 and a debt-to-equity ratio of 108.47. Glencore has a twelve month low of GBX 281.93 and a twelve month high of GBX 621.40. The company has a market cap of £67.56 billion, a PE ratio of 192.19, a P/E/G ratio of 0.43 and a beta of 0.51. The company’s 50 day moving average is GBX 543.31 and its two-hundred day moving average is GBX 540.77.

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.