Glencore (LON:GLEN) Reaches New 1-Year High – Should You Buy?

Glencore plc (LON:GLEN)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 577.90 and last traded at GBX 577.60, with a volume of 108291000 shares traded. The stock had previously closed at GBX 575.80.

Wall Street Analysts Forecast Growth

GLEN has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price target on shares of Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 630 target price on shares of Glencore in a research note on Friday, May 1st. Finally, Citigroup raised their target price on shares of Glencore from GBX 620 to GBX 670 and gave the company a “buy” rating in a research note on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of GBX 534.

Glencore Price Performance

The business’s 50 day moving average is GBX 544.95 and its two-hundred day moving average is GBX 464.94. The firm has a market capitalization of £67.40 billion, a PE ratio of 191.77, a P/E/G ratio of 0.43 and a beta of 0.53. The company has a debt-to-equity ratio of 109.99, a current ratio of 1.06 and a quick ratio of 0.32.

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.