Glencore (LON:GLEN) Price Target Raised to GBX 780

Glencore (LON:GLEN) had its price objective hoisted by analysts at Citigroup from GBX 770 to GBX 780 in a research report issued to clients and investors on Wednesday,Digital Look reports. The firm presently has a “buy” rating on the natural resources company’s stock. Citigroup’s price target would indicate a potential upside of 35.28% from the company’s previous close.

A number of other brokerages also recently weighed in on GLEN. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 700 price objective on shares of Glencore in a research report on Monday, July 6th. Berenberg Bank reduced their target price on shares of Glencore from GBX 750 to GBX 740 and set a “buy” rating for the company in a report on Friday, August 7th. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 600 price target on shares of Glencore in a research report on Monday, July 27th. JPMorgan Chase & Co. lowered their price target on shares of Glencore from GBX 520 to GBX 510 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 630 price objective on shares of Glencore in a research report on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Glencore has an average rating of “Moderate Buy” and a consensus price target of GBX 660.

Glencore Trading Up 0.4%

Shares of LON:GLEN opened at GBX 576.57 on Wednesday. Glencore has a 12-month low of GBX 281.93 and a 12-month high of GBX 621.40. The business’s fifty day simple moving average is GBX 543.31 and its 200-day simple moving average is GBX 540.77. The company has a market capitalization of £67.56 billion, a PE ratio of 192.19, a P/E/G ratio of 0.43 and a beta of 0.51. The company has a current ratio of 1.06, a quick ratio of 0.32 and a debt-to-equity ratio of 108.47.

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.