Glencore PLC (GLEN) Coverage Initiated at HSBC
Investment analysts at HSBC began coverage on shares of Glencore PLC (LON:GLEN) in a report issued on Thursday. The brokerage set a “buy” rating and a GBX 300 ($3.72) price target on the natural resources company’s stock. HSBC’s price objective would indicate a potential upside of 5.23% from the stock’s previous close.
A number of other brokerages also recently weighed in on GLEN. Canaccord Genuity restated a “buy” rating and issued a GBX 215 ($2.66) target price on shares of Glencore PLC in a research note on Thursday, August 11th. Societe Generale restated a “buy” rating and issued a GBX 230 ($2.85) target price on shares of Glencore PLC in a research note on Friday, August 12th. Jefferies Group upgraded Glencore PLC to a “buy” rating and boosted their target price for the stock from GBX 210 ($2.60) to GBX 300 ($3.72) in a research note on Thursday. Macquarie downgraded Glencore PLC to a “neutral” rating and set a GBX 200 ($2.48) target price on the stock. in a research note on Thursday, August 18th. Finally, Liberum Capital downgraded Glencore PLC to a “sell” rating and boosted their target price for the stock from GBX 125 ($1.55) to GBX 140 ($1.73) in a research note on Thursday, July 28th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of GBX 201.63 ($2.50).
Glencore PLC (LON:GLEN) opened at 284.80 on Thursday. The firm’s 50-day moving average price is GBX 234.05 and its 200-day moving average price is GBX 181.94. The company’s market cap is GBX 40.52 billion. Glencore PLC has a 1-year low of GBX 69.26 and a 1-year high of GBX 292.00.
About Glencore PLC
Glencore plc is an integrated producer and marketer of natural resources, with activities in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products and agricultural products. The Company’s segments include metals and minerals, energy products, agricultural products, and corporate and other.
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