Barclays Cuts Glencore (LON:GLEN) Price Target to GBX 330

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Glencore (LON:GLEN) had its price objective cut by Barclays from GBX 340 ($4.44) to GBX 330 ($4.31) in a research note published on Tuesday, Borsen Zeitung reports. They currently have an overweight rating on the natural resources company’s stock.

Several other equities research analysts have also issued reports on the stock. Liberum Capital reiterated a hold rating on shares of Glencore in a research note on Wednesday, July 3rd. Morgan Stanley set a GBX 320 ($4.18) price target on shares of Glencore and gave the company a buy rating in a research note on Tuesday, August 6th. Credit Suisse Group set a GBX 390 ($5.10) price target on shares of Glencore and gave the company a buy rating in a research note on Monday, August 5th. Goldman Sachs Group set a GBX 230 ($3.01) price target on shares of Glencore and gave the company a sell rating in a research note on Tuesday, August 6th. Finally, Deutsche Bank set a GBX 280 ($3.66) price target on shares of Glencore and gave the company a buy rating in a research note on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of GBX 308.06 ($4.03).

GLEN opened at GBX 222.15 ($2.90) on Tuesday. The stock has a market capitalization of $30.23 billion and a P/E ratio of 32.20. Glencore has a 12 month low of GBX 220.36 ($2.88) and a 12 month high of GBX 343.60 ($4.49). The firm’s fifty day simple moving average is GBX 260.60 and its 200 day simple moving average is GBX 288.24. The company has a current ratio of 1.05, a quick ratio of 0.53 and a debt-to-equity ratio of 86.25.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.

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Analyst Recommendations for Glencore (LON:GLEN)

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