Glencore (LON:GLEN) Sets New 12-Month High – Here’s What Happened

Glencore plc (LON:GLEN)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 534.23 and last traded at GBX 528.62, with a volume of 586134375 shares traded. The stock had previously closed at GBX 519.30.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GLEN. Royal Bank Of Canada boosted their target price on Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. increased their price objective on shares of Glencore from GBX 400 to GBX 450 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Finally, Berenberg Bank reissued a “hold” rating and issued a GBX 350 target price on shares of Glencore in a research note on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 420.

Glencore Price Performance

The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14. The stock has a market cap of £62.38 billion, a PE ratio of -33.31, a P/E/G ratio of 0.43 and a beta of 1.21. The company’s 50 day moving average is GBX 464.19 and its 200-day moving average is GBX 381.51.

Glencore Company Profile

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.