Glencore (GLEN) Earns Conviction-Buy Rating from Goldman Sachs

Goldman Sachs reiterated their conviction-buy rating on shares of Glencore (LON:GLEN) in a research note released on Friday. Goldman Sachs currently has a GBX 520 ($7.30) price target on the natural resources company’s stock.

A number of other research firms have also weighed in on GLEN. Liberum Capital restated a sell rating and set a GBX 300 ($4.21) price objective on shares of Glencore in a research note on Thursday, January 11th. Deutsche Bank raised their price objective on shares of Glencore from GBX 430 ($6.04) to GBX 450 ($6.32) and gave the company a buy rating in a research note on Monday, January 15th. JPMorgan Chase restated an overweight rating and set a GBX 470 ($6.60) price objective on shares of Glencore in a research note on Thursday, January 18th. Credit Suisse Group restated an outperform rating and set a GBX 445 ($6.25) price objective on shares of Glencore in a research note on Monday, January 22nd. Finally, UBS set a GBX 380 ($5.33) price objective on shares of Glencore and gave the company a neutral rating in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Glencore presently has a consensus rating of Buy and an average price target of GBX 421.95 ($5.92).

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LON:GLEN traded down GBX 7.60 ($0.11) on Friday, reaching GBX 351.15 ($4.93). 37,116,281 shares of the stock traded hands, compared to its average volume of 46,120,000. Glencore has a 12 month low of GBX 270 ($3.79) and a 12 month high of GBX 416.91 ($5.85).

The business also recently declared a dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, September 6th will be paid a $0.10 dividend. The ex-dividend date is Thursday, September 6th. This represents a dividend yield of 1.81%.

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About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.

Analyst Recommendations for Glencore (LON:GLEN)

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