Glencore plc (LON:GLEN) Given Average Rating of “Moderate Buy” by Brokerages

Glencore plc (LON:GLEN) has earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is GBX 1,780.

A number of brokerages have recently weighed in on GLEN. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 600 target price on shares of Glencore in a research note on Monday. Jefferies Financial Group restated a “buy” rating and issued a GBX 700 price target on shares of Glencore in a research note on Monday, July 6th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 780 price objective on shares of Glencore in a report on Wednesday, July 1st. Citigroup increased their price objective on Glencore from GBX 6,700 to GBX 7,700 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. dropped their target price on Glencore from GBX 560 to GBX 520 and set a “neutral” rating for the company in a report on Friday, July 10th.

Glencore Trading Up 4.1%

Shares of LON:GLEN opened at GBX 527.10 on Wednesday. Glencore has a 12-month low of GBX 275.20 and a 12-month high of GBX 621.40. The stock has a market cap of £61.77 billion, a PE ratio of 175.70, a P/E/G ratio of 0.43 and a beta of 0.51. The business has a 50 day moving average of GBX 548.16 and a 200-day moving average of GBX 534.99. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 106.72.

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.