Glencore plc (LON:GLEN) Stock Rated “Moderate Buy” by Wall Street Brokerages

Shares of Glencore plc (LON:GLEN) have earned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is GBX 666.67.

GLEN has been the topic of several recent research reports. JPMorgan Chase & Co. reduced their price target on Glencore from GBX 520 to GBX 510 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 600 price objective on shares of Glencore in a research report on Monday, July 27th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 780 target price on shares of Glencore in a report on Friday, October 30th. Citigroup boosted their price target on Glencore from GBX 770 to GBX 780 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 630 price target on shares of Glencore in a research note on Monday, October 5th.

Glencore Stock Performance

GLEN opened at GBX 504.60 on Friday. The stock has a market cap of £59.11 billion, a PE ratio of 11.21, a PEG ratio of 0.43 and a beta of 0.51. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 108.47. The business has a 50 day moving average of GBX 559.64 and a 200-day moving average of GBX 548.60. Glencore has a 52 week low of GBX 332.20 and a 52 week high of GBX 633.90.

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.