Shares of Glencore plc (LON:GLEN – Get Free Report) reached a new 52-week low on Thursday . The company traded as low as GBX 3.95 ($0.05) and last traded at GBX 391 ($5.17), with a volume of 465106125 shares trading hands. The stock had previously closed at GBX 379.85 ($5.02).
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on GLEN. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Glencore from GBX 530 ($7.00) to GBX 500 ($6.61) and set a “buy” rating for the company in a research note on Monday, September 9th. Bank of America reissued a “buy” rating and set a GBX 500 ($6.61) target price on shares of Glencore in a research note on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 516.25 ($6.82).
Read Our Latest Stock Analysis on GLEN
Glencore Trading Up 2.3 %
Insider Activity at Glencore
In related news, insider Martin J. Gilbert acquired 3,000 shares of the stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of GBX 409 ($5.40) per share, for a total transaction of £12,270 ($16,208.72). 10.35% of the stock is currently owned by insiders.
About Glencore
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.
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