Royal Bank Of Canada Forecasts Strong Price Appreciation for Glencore (LON:GLEN) Stock

Glencore (LON:GLEN) had its target price lifted by research analysts at Royal Bank Of Canada from GBX 430 to GBX 480 in a report issued on Thursday,London Stock Exchange reports. The brokerage currently has an “outperform” rating on the natural resources company’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 21.00% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. Berenberg Bank reiterated a “hold” rating and issued a GBX 350 price objective on shares of Glencore in a report on Thursday, October 30th. JPMorgan Chase & Co. increased their target price on shares of Glencore from GBX 400 to GBX 450 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Glencore has an average rating of “Moderate Buy” and an average price target of GBX 418.33.

Glencore Stock Performance

LON GLEN traded down GBX 26.12 during trading hours on Thursday, reaching GBX 396.68. The stock had a trading volume of 49,584,793 shares, compared to its average volume of 29,856,313. Glencore has a 52-week low of GBX 205 and a 52-week high of GBX 430.95. The stock has a fifty day moving average of GBX 376.35 and a 200 day moving average of GBX 335.30. The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30. The stock has a market cap of £46.47 billion, a P/E ratio of -24.79, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21.

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.