Glencore’s (GLEN) Buy Rating Reiterated at Deutsche Bank Aktiengesellschaft

Glencore (LON:GLEN)‘s stock had its “buy” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft in a research note issued to investors on Monday, October 5th, MarketBeat reports. They presently have a GBX 630 price objective on the natural resources company’s stock. Deutsche Bank Aktiengesellschaft’s price objective indicates a potential upside of 7.60% from the stock’s previous close.

A number of other brokerages also recently commented on GLEN. Jefferies Financial Group restated a “buy” rating and issued a GBX 700 target price on shares of Glencore in a research note on Monday, July 6th. Berenberg Bank decreased their price target on shares of Glencore from GBX 750 to GBX 740 and set a “buy” rating for the company in a research note on Friday, August 7th. Citigroup lifted their price target on shares of Glencore from GBX 770 to GBX 780 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 600 price objective on shares of Glencore in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. dropped their price objective on Glencore from GBX 520 to GBX 510 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of GBX 660.

Glencore Trading Up 0.2%

GLEN traded up GBX 0.90 on Monday, reaching GBX 585.50. 16,209,769 shares of the company traded hands, compared to its average volume of 41,611,898. Glencore has a one year low of GBX 332.20 and a one year high of GBX 633.90. The firm has a fifty day simple moving average of GBX 575.82 and a two-hundred day simple moving average of GBX 560.96. The company has a market cap of £68.65 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 108.47.

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.
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.