HSBC Holdings plc Reiterates “GBX 370” Price Target for Glencore PLC (LON:GLEN)
Glencore PLC (LON:GLEN) received a GBX 370 ($4.82) price target from research analysts at HSBC Holdings plc in a note issued to investors on Friday. The firm presently has a “buy” rating on the natural resources company’s stock. HSBC Holdings plc’s price objective indicates a potential upside of 11.63% from the company’s previous close.
Other equities analysts also recently issued reports about the company. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a GBX 365 ($4.75) target price (down from GBX 390 ($5.08)) on shares of Glencore PLC in a research note on Tuesday, April 25th. Jefferies Group LLC reissued a “buy” rating and set a GBX 380 ($4.95) target price on shares of Glencore PLC in a research note on Tuesday, April 18th. Shore Capital reissued a “buy” rating on shares of Glencore PLC in a research note on Tuesday, May 23rd. UBS Group AG set a GBX 390 ($5.08) target price on Glencore PLC and gave the stock a “buy” rating in a research note on Monday, June 12th. Finally, Investec reissued a “buy” rating and set a GBX 356 ($4.64) target price on shares of Glencore PLC in a research note on Wednesday, June 14th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the stock. Glencore PLC presently has an average rating of “Hold” and a consensus price target of GBX 342.21 ($4.46).
Shares of Glencore PLC (GLEN) opened at 314.75 on Friday. The firm has a 50-day moving average price of GBX 313.63 and a 200 day moving average price of GBX 310.17. Glencore PLC has a one year low of GBX 171.50 and a one year high of GBX 348.25. The firm’s market capitalization is GBX 44.85 billion.
In other news, insider Martin J. Gilbert bought 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of GBX 338 ($4.40) per share, with a total value of £169,000 ($220,080.74).
About Glencore PLC
Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.
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