Glencore PLC (GLEN) Reaches New 12-Month High on Analyst Upgrade
Glencore PLC (LON:GLEN) shares reached a new 52-week high on Friday after Deutsche Bank AG raised their price target on the stock from GBX 420 to GBX 430. Deutsche Bank AG currently has a buy rating on the stock. Glencore PLC traded as high as GBX 379 ($4.98) and last traded at GBX 376.60 ($4.95), with a volume of shares.
GLEN has been the topic of several other research reports. Jefferies Group LLC boosted their price target on Glencore PLC from GBX 400 ($5.26) to GBX 450 ($5.92) and gave the stock a “buy” rating in a research report on Thursday, August 31st. UBS AG set a GBX 350 ($4.60) price target on Glencore PLC and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Macquarie reaffirmed an “outperform” rating and set a GBX 395 ($5.19) price target on shares of Glencore PLC in a research report on Friday, September 15th. Morgan Stanley set a GBX 347 ($4.56) price target on Glencore PLC and gave the stock a “neutral” rating in a research report on Tuesday, September 26th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a GBX 400 ($5.26) price target on shares of Glencore PLC in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the stock. Glencore PLC presently has a consensus rating of “Buy” and a consensus price target of GBX 375 ($4.93).
In other news, insider Martin J. Gilbert purchased 50,000 shares of Glencore PLC stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average cost of GBX 338 ($4.44) per share, for a total transaction of £169,000 ($222,193.01).
The stock’s 50 day moving average is GBX 356.95 and its 200-day moving average is GBX 319.61. The stock’s market capitalization is GBX 53.71 billion.
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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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