UBS Analysts Give Glencore (GLEN) a GBX 380 Price Target
UBS set a GBX 380 ($5.11) price objective on Glencore (LON:GLEN) in a report published on Wednesday morning, www.boersen-zeitung.de reports. The brokerage currently has a neutral rating on the natural resources company’s stock.
GLEN has been the subject of several other reports. Jefferies Group increased their price target on shares of Glencore from GBX 400 ($5.38) to GBX 450 ($6.06) and gave the company a buy rating in a research report on Thursday, August 31st. Deutsche Bank reissued a buy rating on shares of Glencore in a research report on Wednesday, November 1st. Liberum Capital lowered shares of Glencore to a sell rating and increased their price target for the company from GBX 285 ($3.84) to GBX 300 ($4.04) in a research report on Thursday, October 26th. Macquarie reissued an outperform rating and set a GBX 395 ($5.32) price target on shares of Glencore in a research report on Friday, September 15th. Finally, Morgan Stanley set a GBX 347 ($4.67) price target on shares of Glencore and gave the company a neutral rating in a research report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of GBX 389.04 ($5.24).
Glencore (GLEN) traded up GBX 7.50 ($0.10) during mid-day trading on Wednesday, hitting GBX 345.50 ($4.65). 47,910,185 shares of the company’s stock traded hands, compared to its average volume of 35,670,000. Glencore has a 1-year low of GBX 260.50 ($3.51) and a 1-year high of GBX 388.25 ($5.23).
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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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