Analysts Set Glencore plc (LON:GLEN) Price Target at GBX 1,790

Shares of Glencore plc (LON:GLEN) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is GBX 1,786.67.

GLEN has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective 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. Citigroup boosted their price target on Glencore from GBX 6,700 to GBX 7,700 and gave the company a “buy” rating in a report on Thursday, June 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 600 price target on shares of Glencore in a research report on Thursday, July 2nd. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 700 price target on shares of Glencore in a research report on Monday. Finally, Berenberg Bank reiterated a “buy” rating and issued a GBX 780 price objective on shares of Glencore in a report on Wednesday, July 1st.

Glencore Price Performance

Shares of Glencore stock opened at GBX 490.65 on Friday. The firm has a market cap of £57.49 billion, a PE ratio of 163.55, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51. Glencore has a 12-month low of GBX 275.20 and a 12-month high of GBX 707.20. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 106.72. The company’s fifty day simple moving average is GBX 561.77 and its two-hundred day simple moving average is GBX 523.51.

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.