Glencore’s (GLEN) Buy Rating Reiterated at Deutsche Bank
Deutsche Bank reiterated their buy rating on shares of Glencore (LON:GLEN) in a research report sent to investors on Wednesday. They currently have a GBX 430 ($5.79) price objective on the natural resources company’s stock.
Several other analysts have also weighed in on GLEN. J P Morgan Chase & Co reiterated a neutral rating and set a GBX 320 ($4.31) target price on shares of Glencore in a research report on Wednesday. Liberum Capital reiterated a sell rating and set a GBX 300 ($4.04) target price on shares of Glencore in a research report on Tuesday. Beaufort Securities reiterated a long term buy rating and set a GBX 400 ($5.38) target price on shares of Glencore in a research report on Thursday, August 17th. UBS set a GBX 380 ($5.11) target price on shares of Glencore and gave the company a neutral rating in a research report on Wednesday, December 6th. Finally, Goldman Sachs Group set a GBX 400 ($5.38) target price on shares of Glencore and gave the company a buy rating in a research report on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of GBX 396.43 ($5.34).
Shares of Glencore (LON GLEN) traded up GBX 5.40 ($0.07) during trading on Wednesday, hitting GBX 362.75 ($4.88). 62,155,121 shares of the stock traded hands, compared to its average volume of 36,030,000. 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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