Citigroup Inc. Reaffirms Buy Rating for Glencore PLC (GLEN)
A number of other equities analysts also recently weighed in on GLEN. UBS AG set a GBX 390 ($5.06) price target on Glencore PLC and gave the stock a buy rating in a research report on Monday, June 12th. Canaccord Genuity reissued a buy rating and set a GBX 375 ($4.87) price target on shares of Glencore PLC in a research report on Friday, August 11th. S&P Global set a GBX 300 ($3.89) price target on Glencore PLC and gave the stock a sell rating in a research report on Thursday, August 10th. Deutsche Bank AG restated a hold rating and set a GBX 300 ($3.89) price objective on shares of Glencore PLC in a report on Friday, August 11th. Finally, Credit Suisse Group boosted their price objective on Glencore PLC from GBX 390 ($5.06) to GBX 400 ($5.19) and gave the stock an outperform rating in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of GBX 354.29 ($4.60).
Glencore PLC (GLEN) opened at 352.80 on Wednesday. The company’s 50-day moving average price is GBX 330.34 and its 200 day moving average price is GBX 311.76. The firm’s market capitalization is GBX 50.31 billion. Glencore PLC has a 52-week low of GBX 171.50 and a 52-week high of GBX 357.00.
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In related news, insider Martin J. Gilbert purchased 50,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of GBX 338 ($4.39) per share, for a total transaction of £169,000 ($219,395.04).
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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