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

Glencore plc (LON:GLEN) reached a new 52-week high on Tuesday . The company traded as high as GBX 615 and last traded at GBX 580.06, with a volume of 2147000000 shares traded. The stock had previously closed at GBX 567.80.

Analysts Set New Price Targets

GLEN has been the topic of several analyst reports. Citigroup increased their target price on shares of Glencore from GBX 620 to GBX 670 and gave the stock a “buy” rating in a research report on Monday, April 13th. Royal Bank Of Canada increased their target price on shares of Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. JPMorgan Chase & Co. increased their target price on shares of Glencore from GBX 500 to GBX 560 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 630 target price on shares of Glencore in a research report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Glencore presently has a consensus rating of “Moderate Buy” and an average target price of GBX 556.

Glencore Trading Up 2.2%

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’s 50 day moving average is GBX 560.85 and its two-hundred day moving average is GBX 488.06. The firm has a market cap of £67.96 billion, a P/E ratio of 193.35, a PEG ratio of 0.43 and a beta of 0.53.

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.