Glencore (LON:GLEN) Reaches New 52-Week Low on Analyst Downgrade

Glencore plc (LON:GLEN)’s stock price hit a new 52-week low during trading on Tuesday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from GBX 530 to GBX 500. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Glencore traded as low as GBX 365.15 ($4.78) and last traded at GBX 365.50 ($4.78), with a volume of 238481875 shares traded. The stock had previously closed at GBX 370.05 ($4.84).

Separately, Bank of America restated a “buy” rating and issued a GBX 500 ($6.54) target price on shares of Glencore in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 516.25 ($6.75).

Insiders Place Their Bets

In related news, insider Martin J. Gilbert acquired 3,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was bought at an average price of GBX 409 ($5.35) per share, for a total transaction of £12,270 ($16,045.51). Insiders own 10.35% of the company’s stock.

Glencore Trading Up 3.1 %

The company has a debt-to-equity ratio of 89.50, a quick ratio of 0.32 and a current ratio of 1.30. The firm has a fifty day moving average price of GBX 421.68 and a 200 day moving average price of GBX 439.97. The company has a market cap of £45.48 billion, a price-to-earnings ratio of -12,382.50, a P/E/G ratio of 0.43 and a beta of 1.21.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.