Glencore (LON:GLEN) Reaches New 1-Year High – Time to Buy?

Glencore plc (LON:GLEN)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 540 and last traded at GBX 538.40, with a volume of 245264078 shares trading hands. The stock had previously closed at GBX 527.90.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. boosted their target price 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 decreased their price target on shares of Glencore from GBX 610 to GBX 600 and set a “buy” rating for the company in a report on Thursday, March 5th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of GBX 470.

Glencore Trading Down 1.4%

The company has a debt-to-equity ratio of 109.99, a current ratio of 1.06 and a quick ratio of 0.32. The company has a market capitalization of £61.37 billion, a price-to-earnings ratio of 174.90, a price-to-earnings-growth ratio of 0.43 and a beta of 0.67. The business has a fifty day moving average price of GBX 510.55 and a 200 day moving average price of GBX 415.57.

About Glencore

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.