Glencore (LON:GLEN) Now Covered by Berenberg Bank

Berenberg Bank initiated coverage on shares of Glencore (LON:GLEN) in a research report sent to investors on Monday,Digital Look reports. The brokerage issued a buy rating and a GBX 380 ($4.92) price objective on the natural resources company’s stock.

Several other equities research analysts have also recently commented on the company. Citigroup reaffirmed a “top pick” rating on shares of Glencore in a research note on Thursday, December 12th. Morgan Stanley upgraded shares of Glencore to an “overweight” rating and set a GBX 470 ($6.08) price objective for the company in a research note on Tuesday, February 18th. Royal Bank of Canada dropped their target price on shares of Glencore from GBX 480 ($6.21) to GBX 440 ($5.70) and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 480 ($6.21) price target on shares of Glencore in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of GBX 476.43 ($6.17).

Glencore Trading Down 0.9 %

GLEN traded down GBX 2.80 ($0.04) during trading on Monday, reaching GBX 310.85 ($4.02). 639,577,563 shares of the stock traded hands, compared to its average volume of 54,554,207. The stock’s 50-day moving average is GBX 348.11 and its 200 day moving average is GBX 376.94. Glencore has a 12 month low of GBX 309.15 ($4.00) and a 12 month high of GBX 506.72 ($6.56). The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. The stock has a market capitalization of £47.42 billion, a PE ratio of -87.06, a P/E/G 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.