Glencore’s (GLEN) Buy Rating Reaffirmed at Jefferies Financial Group

Glencore (LON:GLEN)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Financial Group in a note issued to investors on Monday,Digital Look reports. They currently have a GBX 700 target price on the natural resources company’s stock. Jefferies Financial Group’s target price points to a potential upside of 37.04% from the company’s previous close.

Several other research firms also recently weighed in on GLEN. JPMorgan Chase & Co. boosted their target price on Glencore from GBX 500 to GBX 560 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Citigroup boosted their price objective on Glencore from GBX 6,700 to GBX 7,700 and gave the company a “buy” rating in a research note on Thursday, June 4th. Berenberg Bank reissued a “buy” rating and issued a GBX 780 price objective on shares of Glencore in a report on Wednesday, July 1st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a GBX 600 target price on shares of Glencore in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,786.67.

Glencore Price Performance

Shares of LON:GLEN opened at GBX 510.80 on Monday. Glencore has a 12 month low of GBX 275.20 and a 12 month high of GBX 707.20. The firm has a market capitalization of £59.84 billion, a P/E ratio of 170.27, a P/E/G ratio of 0.43 and a beta of 0.51. The company has a debt-to-equity ratio of 106.72, a current ratio of 1.06 and a quick ratio of 0.32. The company’s fifty day moving average price is GBX 564.94 and its 200 day moving average price is GBX 520.84.

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.