Glencore (LON:GLEN) Hits New 52-Week Low – Time to Sell?

Glencore plc (LON:GLEN)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as GBX 4.94 and last traded at GBX 494.95, with a volume of 353493813 shares changing hands. The stock had previously closed at GBX 494.25.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLEN. Royal Bank Of Canada boosted their price objective on shares of Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. upped their price target on Glencore from GBX 400 to GBX 450 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Finally, Berenberg Bank reaffirmed a “hold” rating and set a GBX 350 price objective on shares of Glencore in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 428.33.

Glencore Stock Performance

The company has a market cap of £57.89 billion, a P/E ratio of -30.91, a P/E/G ratio of 0.43 and a beta of 1.21. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. The business has a fifty day simple moving average of GBX 446.82 and a two-hundred day simple moving average of GBX 370.78.

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.