UBS Group Reiterates “GBX 380” Price Target for Glencore (GLEN)
UBS Group set a GBX 380 ($5.15) target price on Glencore (LON:GLEN) in a research report released on Wednesday morning, www.boersen-zeitung.de reports. The firm currently has a neutral rating on the natural resources company’s stock.
Several other equities analysts have also recently issued reports on the company. Macquarie reissued an outperform rating on shares of Glencore in a research note on Wednesday, October 18th. Societe Generale boosted their target price on Glencore from GBX 400 ($5.42) to GBX 470 ($6.37) and gave the company a buy rating in a research note on Thursday, November 9th. Citigroup reissued a buy rating and set a GBX 400 ($5.42) target price on shares of Glencore in a research note on Monday, October 9th. Liberum Capital cut Glencore to a sell rating and boosted their target price for the company from GBX 285 ($3.86) to GBX 300 ($4.07) in a research note on Thursday, October 26th. Finally, Goldman Sachs Group reissued a conviction-buy rating and set a GBX 400 ($5.42) target price on shares of Glencore in a research note on Friday, November 24th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of GBX 398.61 ($5.41).
Shares of Glencore (LON GLEN) traded up GBX 0.80 ($0.01) during mid-day trading on Wednesday, reaching GBX 407.55 ($5.53). The company’s stock had a trading volume of 48,618,914 shares, compared to its average volume of 34,680,000. Glencore has a 12-month low of GBX 270 ($3.66) and a 12-month high of GBX 411 ($5.57). The company has a market capitalization of $58,530.00 and a P/E ratio of 3,705.00.
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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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