JPMorgan Chase & Co. Cuts Glencore (LON:GLEN) Price Target to GBX 510

Glencore (LON:GLEN) had its price target decreased by JPMorgan Chase & Co. from GBX 520 to GBX 510 in a research report released on Thursday,Digital Look reports. JPMorgan Chase & Co. currently has a neutral rating on the natural resources company’s stock.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group reiterated a “buy” rating and set a GBX 700 price target on shares of Glencore in a research note on Monday, July 6th. Citigroup upped their price objective on shares of Glencore from GBX 6,700 to GBX 7,700 and gave the company a “buy” rating in a research note on Thursday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 600 price objective on shares of Glencore in a report on Monday, July 27th. Finally, Berenberg Bank cut their target price on Glencore from GBX 780 to GBX 750 and set a “buy” rating on the stock in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,773.33.

Glencore Stock Up 1.2%

Shares of LON:GLEN opened at GBX 545.45 on Thursday. The firm has a 50 day simple moving average of GBX 546.05 and a 200-day simple moving average of GBX 536.54. Glencore has a twelve month low of GBX 275.20 and a twelve month high of GBX 621.40. The company has a current ratio of 1.06, a quick ratio of 0.32 and a debt-to-equity ratio of 106.72. The company has a market capitalization of £63.92 billion, a PE ratio of 181.82, a P/E/G ratio of 0.43 and a beta of 0.51.

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.