Glencore (GLEN) Sets New 1-Year High Following Analyst Upgrade

Glencore PLC (LON:GLEN) reached a new 52-week high during trading on Monday after Barclays raised their price target on the stock from GBX 400 to GBX 450. Barclays currently has an overweight rating on the stock. Glencore traded as high as GBX 395.75 ($5.37) and last traded at GBX 395.05 ($5.36), with a volume of 33105724 shares changing hands. The stock had previously closed at GBX 395.05 ($5.36).

GLEN has been the subject of a number of other research reports. Deutsche Bank reiterated a “buy” rating on shares of Glencore in a report on Wednesday, November 1st. Liberum Capital downgraded Glencore to a “sell” rating and increased their price target for the stock from GBX 285 ($3.86) to GBX 300 ($4.07) in a report on Thursday, October 26th. Jefferies Group restated a “buy” rating and issued a GBX 450 ($6.10) price target on shares of Glencore in a report on Wednesday, November 1st. Macquarie restated an “outperform” rating and issued a GBX 395 ($5.36) price target on shares of Glencore in a report on Friday, September 15th. Finally, Morgan Stanley set a GBX 347 ($4.71) price target on Glencore and gave the stock a “neutral” rating in a report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of GBX 398.61 ($5.41).

The stock has a market cap of $57,330.00 and a PE ratio of 3,620.00.

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About Glencore

Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.

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