Macquarie Reaffirms “Outperform” Rating for Glencore PLC (GLEN)
Macquarie reissued their outperform rating on shares of Glencore PLC (LON:GLEN) in a report issued on Friday morning. They currently have a GBX 385 ($5.01) target price on the natural resources company’s stock.
A number of other brokerages have also weighed in on GLEN. UBS AG set a GBX 350 ($4.56) price objective on Glencore PLC and gave the stock a buy rating in a research report on Thursday. HSBC Holdings plc cut their price objective on Glencore PLC from GBX 390 ($5.08) to GBX 380 ($4.95) and set a buy rating on the stock in a research report on Friday, July 14th. Jefferies Group LLC reiterated a buy rating and issued a GBX 380 ($4.95) price objective on shares of Glencore PLC in a research report on Wednesday, May 24th. Deutsche Bank AG cut their price objective on Glencore PLC from GBX 330 ($4.30) to GBX 290 ($3.78) and set a hold rating on the stock in a research report on Thursday, May 4th. Finally, Goldman Sachs Group, Inc. (The) cut their price objective on Glencore PLC from GBX 360 ($4.69) to GBX 350 ($4.56) and set a buy rating on the stock in a research report on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of GBX 352.30 ($4.59).
Glencore PLC (LON:GLEN) opened at 329.90 on Friday. Glencore PLC has a 52 week low of GBX 171.50 and a 52 week high of GBX 348.25. The firm has a 50-day moving average price of GBX 315.64 and a 200 day moving average price of GBX 310.18. The firm’s market capitalization is GBX 47.05 billion.
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In other news, insider Martin J. Gilbert acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average price of GBX 338 ($4.40) per share, with a total value of £169,000 ($220,080.74).
About Glencore PLC
Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.
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