Glencore’s (GLEN) Buy Rating Reiterated at Berenberg Bank

Glencore (LON:GLEN)‘s stock had its “buy” rating reiterated by Berenberg Bank in a research report issued to clients and investors on Wednesday,London Stock Exchange reports. They presently have a GBX 780 target price on the natural resources company’s stock. Berenberg Bank’s price target suggests a potential upside of 52.49% from the company’s current price.

A number of other equities research analysts have also recently issued reports on GLEN. JPMorgan Chase & Co. upped their price objective on shares of Glencore from GBX 500 to GBX 560 and gave the stock a “neutral” rating in a report on Tuesday, May 26th. Citigroup raised their target price on shares of Glencore from GBX 6,700 to GBX 7,700 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a GBX 720 target price on shares of Glencore in a report on Tuesday, June 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Glencore has an average rating of “Moderate Buy” and an average price target of GBX 1,780.

Glencore Stock Performance

Shares of GLEN opened at GBX 511.50 on Wednesday. The firm has a market cap of £59.92 billion, a price-to-earnings ratio of 170.50, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51. The company’s fifty day moving average is GBX 567.38 and its 200-day moving average is GBX 518.04. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 106.72. Glencore has a 12 month low of GBX 275.20 and a 12 month high of GBX 707.20.

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.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.