Glencore (LON:GLEN) Price Target Raised to GBX 780

Glencore (LON:GLEN) had its price target raised by Citigroup from GBX 770 to GBX 780 in a research report released on Wednesday,Digital Look reports. They currently have a buy rating on the natural resources company’s stock.

A number of other research firms have also recently commented on GLEN. Jefferies Financial Group reissued a “buy” rating and issued a GBX 700 price target on shares of Glencore in a research note on Monday, July 6th. Berenberg Bank decreased their price target on shares of Glencore from GBX 750 to GBX 740 and set a “buy” rating on the stock in a report on Friday, August 7th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 600 price objective on shares of Glencore in a research report on Monday, July 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 630 price objective on shares of Glencore in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. cut their target price on shares of Glencore from GBX 520 to GBX 510 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Glencore has an average rating of “Moderate Buy” and a consensus price target of GBX 660.

Glencore Stock Down 1.9%

GLEN stock opened at GBX 550.14 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.32 and a debt-to-equity ratio of 108.47. The company’s 50 day moving average is GBX 540.63 and its 200 day moving average is GBX 541.80. The stock has a market cap of £64.47 billion, a price-to-earnings ratio of 183.38, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51. Glencore has a 1-year low of GBX 281.93 and a 1-year high of GBX 621.40.

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.