Glencore (LON:GLEN) Price Target Raised to GBX 480 at Royal Bank Of Canada

Glencore (LON:GLEN) had its price objective lifted by research analysts at Royal Bank Of Canada from GBX 430 to GBX 480 in a research report issued to clients and investors on Thursday,London Stock Exchange reports. The firm currently has an “outperform” rating on the natural resources company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 21.00% from the company’s current price.

Several other research firms have also recently issued reports on GLEN. JPMorgan Chase & Co. boosted their target price on Glencore from GBX 400 to GBX 450 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Berenberg Bank reaffirmed a “hold” rating and set a GBX 350 price objective on shares of Glencore in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Glencore has a consensus rating of “Moderate Buy” and a consensus target price of GBX 418.33.

Glencore Stock Performance

Shares of GLEN stock traded down GBX 26.12 during mid-day trading on Thursday, hitting GBX 396.68. The stock had a trading volume of 49,584,793 shares, compared to its average volume of 29,856,313. Glencore has a fifty-two week low of GBX 205 and a fifty-two week high of GBX 430.95. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The company’s 50-day simple moving average is GBX 376.35 and its 200-day simple moving average is GBX 335.30. The firm has a market cap of £46.47 billion, a PE ratio of -24.79, a PEG ratio of 0.43 and a beta of 1.21.

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.