Glencore’s (GLEN) “Buy” Rating Reaffirmed at Deutsche Bank
Deutsche Bank reiterated their buy rating on shares of Glencore (LON:GLEN) in a research note released on Tuesday morning. The firm currently has a GBX 450 ($5.88) price objective on the natural resources company’s stock.
GLEN has been the subject of several other reports. Royal Bank of Canada set a GBX 350 ($4.57) price target on shares of Glencore and gave the company a buy rating in a research report on Thursday, November 1st. Liberum Capital upgraded shares of Glencore to a hold rating and set a GBX 300 ($3.92) price target for the company in a research report on Friday, August 17th. Goldman Sachs Group set a GBX 400 ($5.23) price target on shares of Glencore and gave the company a buy rating in a research report on Monday, November 12th. Barclays restated an overweight rating and set a GBX 400 ($5.23) price target on shares of Glencore in a research report on Monday, November 19th. Finally, Societe Generale cut their price target on shares of Glencore from GBX 420 ($5.49) to GBX 370 ($4.83) and set a buy rating for the company in a research report on Thursday, October 25th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Glencore currently has an average rating of Buy and an average price target of GBX 388.57 ($5.08).
LON GLEN opened at GBX 279.40 ($3.65) on Tuesday. Glencore has a 12-month low of GBX 270 ($3.53) and a 12-month high of GBX 416.91 ($5.45).
Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. 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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