Canaccord Genuity Reiterates “Buy” Rating for Glencore PLC (GLEN)

Glencore PLC (LON:GLEN)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity in a note issued to investors on Friday. They presently have a GBX 375 ($4.88) price objective on the natural resources company’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 16.46% from the stock’s current price.

Several other brokerages also recently weighed in on GLEN. UBS AG set a GBX 350 ($4.56) price objective on shares of Glencore PLC and gave the stock a “buy” rating in a research report on Thursday. HSBC Holdings plc reduced their price objective on shares of Glencore PLC from GBX 390 ($5.08) to GBX 380 ($4.95) and set a “buy” rating for the company in a research report on Friday, July 14th. Jefferies Group LLC restated a “buy” rating and set a GBX 380 ($4.95) price objective on shares of Glencore PLC in a research report on Wednesday, May 24th. Deutsche Bank AG reduced their price objective on shares of Glencore PLC from GBX 330 ($4.30) to GBX 290 ($3.78) and set a “hold” rating for the company in a research report on Thursday, May 4th. Finally, Goldman Sachs Group, Inc. (The) reduced their price objective on shares of Glencore PLC from GBX 360 ($4.69) to GBX 350 ($4.56) and set a “buy” rating for the company in a research report on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of GBX 352.30 ($4.59).

Shares of Glencore PLC (LON GLEN) opened at 322.00 on Friday. The stock has a 50 day moving average of GBX 315.64 and a 200 day moving average of GBX 310.18. Glencore PLC has a 12 month low of GBX 171.50 and a 12 month high of GBX 348.25. The stock’s market cap is GBX 45.92 billion.

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In other Glencore PLC news, insider Martin J. Gilbert acquired 50,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average cost of GBX 338 ($4.40) per share, with a total value of £169,000 ($220,080.74).

Glencore PLC Company Profile

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.

Analyst Recommendations for Glencore PLC (LON:GLEN)

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