Glencore (GLEN) Receives Outperform Rating from Credit Suisse Group
Credit Suisse Group reiterated their outperform rating on shares of Glencore (LON:GLEN) in a report released on Tuesday. Credit Suisse Group currently has a GBX 470 ($6.49) target price on the natural resources company’s stock.
GLEN has been the subject of a number of other research reports. JPMorgan Chase & Co. restated an overweight rating and set a GBX 570 ($7.88) price objective on shares of Glencore in a research note on Wednesday, February 21st. Deutsche Bank restated a buy rating and set a GBX 450 ($6.22) price objective on shares of Glencore in a research note on Friday, February 2nd. Goldman Sachs Group set a GBX 450 ($6.22) price objective on Glencore and gave the company a buy rating in a research note on Monday, December 11th. Barclays raised their price objective on Glencore from GBX 400 ($5.53) to GBX 450 ($6.22) and gave the company an overweight rating in a research note on Monday, January 8th. Finally, Royal Bank of Canada set a GBX 470 ($6.49) price objective on Glencore and gave the company a buy rating in a research note on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of GBX 419.45 ($5.80).
Shares of Glencore (LON:GLEN) opened at GBX 384.70 ($5.32) on Tuesday. Glencore has a 12 month low of GBX 270 ($3.73) and a 12 month high of GBX 416.91 ($5.76). The firm has a market capitalization of $55,210.00 and a P/E ratio of 1,282.33.
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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