Analysts Set Glencore plc (LON:GLEN) Target Price at GBX 454

Shares of Glencore plc (LON:GLEN) have been assigned a consensus rating of “Buy” from the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is GBX 454 ($6.03).

A number of equities research analysts have commented on the stock. Morgan Stanley upgraded shares of Glencore to an “overweight” rating and set a GBX 470 ($6.25) target price on the stock in a research note on Tuesday, February 18th. Berenberg Bank decreased their target price on shares of Glencore from GBX 400 ($5.31) to GBX 380 ($5.05) and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 480 ($6.38) target price on shares of Glencore in a research note on Thursday, February 20th. Finally, Royal Bank of Canada reduced their price objective on shares of Glencore from GBX 480 ($6.38) to GBX 440 ($5.85) and set an “outperform” rating on the stock in a research report on Thursday, February 20th.

Insider Activity

In other Glencore news, insider Liz Hewitt purchased 50,000 shares of Glencore stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average price of GBX 302 ($4.01) per share, for a total transaction of £151,000 ($200,637.79). Also, insider Martin J. Gilbert purchased 5,000 shares of Glencore stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of GBX 233 ($3.10) per share, for a total transaction of £11,650 ($15,479.67). Insiders have purchased a total of 70,000 shares of company stock worth $20,540,000 over the last quarter. Insiders own 10.35% of the company’s stock.

Glencore Price Performance

LON GLEN opened at GBX 272.04 ($3.61) on Monday. Glencore has a 12 month low of GBX 205 ($2.72) and a 12 month high of GBX 506.72 ($6.73). The stock has a market cap of £41.50 billion, a price-to-earnings ratio of -76.19, a PEG ratio of 0.43 and a beta of 1.21. The company’s 50 day moving average is GBX 275.33 and its two-hundred day moving average is GBX 334.54. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14.

Glencore Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, September 19th. Stockholders of record on Thursday, August 28th will be given 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 payout ratio is currently -280.06%.

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.