Glencore (LON:GLEN) Sets New 12-Month High – Here’s What Happened

Glencore plc (LON:GLEN)’s share price hit a new 52-week high on Tuesday . The company traded as high as GBX 615 and last traded at GBX 580.06, with a volume of 2147000000 shares changing hands. The stock had previously closed at GBX 567.80.

Wall Street Analyst Weigh In

GLEN has been the topic of a number of recent research reports. Berenberg Bank restated a “buy” rating and set a GBX 630 price objective on shares of Glencore in a research note on Friday, May 1st. Citigroup boosted their price target on Glencore from GBX 620 to GBX 670 and gave the stock a “buy” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. boosted their price target on Glencore from GBX 500 to GBX 560 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada boosted their price target on Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 556.

Glencore Stock Performance

The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 109.99. The company has a 50-day moving average price of GBX 560.85 and a 200-day moving average price of GBX 488.06. The firm has a market capitalization of £67.96 billion, a price-to-earnings ratio of 193.35, a P/E/G ratio of 0.43 and a beta of 0.53.

About Glencore

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.