Glencore (LON:GLEN) Given New GBX 7,700 Price Target at Citigroup

Glencore (LON:GLEN) had its price target upped by Citigroup from GBX 6,700 to GBX 7,700 in a report issued on Thursday,Digital Look reports. The brokerage presently has a “buy” rating on the natural resources company’s stock.

Several other research analysts also recently weighed in on GLEN. JPMorgan Chase & Co. upped their target price on shares of Glencore from GBX 500 to GBX 560 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Berenberg Bank restated a “buy” rating and issued a GBX 630 target price on shares of Glencore in a research note on Friday, May 1st. Finally, Royal Bank Of Canada upped their target price on shares of Glencore from GBX 530 to GBX 540 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 1,962.

Glencore Price Performance

Shares of GLEN stock opened at GBX 609.10 on Thursday. The company has a market capitalization of £71.36 billion, a PE ratio of 203.03, a price-to-earnings-growth ratio of 0.43 and a beta of 0.53. The firm has a fifty day simple moving average of GBX 564.81 and a 200-day simple moving average of GBX 491.42. The company has a current ratio of 1.06, a quick ratio of 0.32 and a debt-to-equity ratio of 109.99. Glencore has a twelve month low of GBX 273.30 and a twelve month high of GBX 707.20.

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.