Glencore plc (LON:GLEN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Glencore plc (LON:GLEN) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is GBX 660.

A number of equities analysts recently commented on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 700 target price on shares of Glencore in a report on Monday, July 6th. JPMorgan Chase & Co. lowered their price target on shares of Glencore from GBX 520 to GBX 510 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Berenberg Bank decreased their price objective on shares of Glencore from GBX 750 to GBX 740 and set a “buy” rating on the stock in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 630 price objective on shares of Glencore in a research report on Thursday, August 6th. Finally, Citigroup upped their target price on shares of Glencore from GBX 770 to GBX 780 and gave the stock a “buy” rating in a report on Wednesday, August 12th.

Glencore Trading Up 2.2%

Shares of Glencore stock opened at GBX 597.30 on Friday. The company’s fifty day simple moving average is GBX 539.95 and its 200-day simple moving average is GBX 544.11. The stock has a market capitalization of £69.99 billion, a PE ratio of 199.10, a P/E/G ratio of 0.43 and a beta of 0.51. Glencore has a 1-year low of GBX 281.93 and a 1-year high of GBX 621.40. The company has a debt-to-equity ratio of 108.47, a current ratio of 1.06 and a quick ratio of 0.32.

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.