Glencore (LON:GLEN) Reaches New 52-Week Low – Here’s Why

Glencore plc (LON:GLEN)’s share price reached a new 52-week low on Thursday . The stock traded as low as GBX 272.40 ($3.51) and last traded at GBX 276.55 ($3.57), with a volume of 553404063 shares changing hands. The stock had previously closed at GBX 282.95 ($3.65).

Analysts Set New Price Targets

A number of equities analysts recently commented on GLEN shares. Morgan Stanley upgraded Glencore to an “overweight” rating and set a GBX 470 ($6.06) target price for the company in a report on Tuesday, February 18th. Citigroup reiterated a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. Berenberg Bank assumed coverage on shares of Glencore in a research note on Monday, March 10th. They issued a “buy” rating and a GBX 380 ($4.90) price target for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 480 ($6.19) price objective on shares of Glencore in a research note on Thursday, February 20th. Finally, Royal Bank of Canada lowered their target price on Glencore from GBX 480 ($6.19) to GBX 440 ($5.68) and set an “outperform” rating for the company in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 476.43 ($6.15).

Glencore Stock Performance

The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The company has a market cap of £36.42 billion, a PE ratio of -66.87, a PEG ratio of 0.43 and a beta of 1.21. The stock has a 50 day simple moving average of GBX 322.72 and a two-hundred day simple moving average of GBX 363.69.

Glencore Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, September 19th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.05 per share. This represents a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, August 28th. Glencore’s dividend payout ratio (DPR) is presently -280.06%.

Insiders Place Their Bets

In other Glencore news, insider Martin J. Gilbert purchased 15,000 shares of Glencore stock in a transaction dated Tuesday, April 1st. The stock was acquired at an average cost of GBX 285 ($3.68) per share, with a total value of £42,750 ($55,147.06). Also, insider Liz Hewitt acquired 50,000 shares of the business’s stock in a transaction on Friday, March 21st. The stock was acquired at an average price of GBX 302 ($3.90) per share, with a total value of £151,000 ($194,788.44). In the last quarter, insiders bought 70,000 shares of company stock worth $20,540,000. 10.35% of the stock is owned by insiders.

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.