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

Shares of Glencore plc (LON:GLEN) have been assigned an average rating of “Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is GBX 476.43 ($6.16).

Several brokerages have recently issued reports on GLEN. Royal Bank of Canada lowered their price objective on shares of Glencore from GBX 480 ($6.21) to GBX 440 ($5.69) and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 480 ($6.21) price objective on shares of Glencore in a research report on Thursday, February 20th. Citigroup reaffirmed a “top pick” rating on shares of Glencore in a research report on Thursday, December 12th. Berenberg Bank assumed coverage on shares of Glencore in a research report on Monday, March 10th. They set a “buy” rating and a GBX 380 ($4.92) price objective on the stock. Finally, Morgan Stanley raised shares of Glencore to an “overweight” rating and set a GBX 470 ($6.08) price objective on the stock in a research report on Tuesday, February 18th.

Glencore Stock Performance

Shares of GLEN opened at GBX 320.75 ($4.15) on Friday. The firm’s 50 day moving average is GBX 345.51 and its 200-day moving average is GBX 375.25. The stock has a market capitalization of £48.93 billion, a P/E ratio of -89.83, a P/E/G ratio of 0.43 and a beta of 1.21. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. Glencore has a 12-month low of GBX 309.15 ($4.00) and a 12-month high of GBX 506.72 ($6.55).

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.