Glencore (LON:GLEN) Given Buy Rating at Berenberg Bank

Key Points

• Berenberg Bank reaffirmed its “buy” rating on Glencore and set a GBX 780 price target, implying 48.85% potential upside from the prior close.
• Analyst sentiment is broadly positive: five analysts rate Glencore a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average target price of GBX 666.67.
• Glencore shares opened at GBX 524 and were down 1.8%; the company has a market capitalization of approximately £61.44 billion and trades at a P/E ratio of 11.64.

Glencore (LON:GLEN - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Berenberg Bank in a research note issued on Friday, Digital Look reports. They presently have a GBX 780 price target on the natural resources company's stock. Berenberg Bank's price target would suggest a potential upside of 48.85% from the company's previous close.

A number of other research analysts have also recently commented on GLEN. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a GBX 630 price target on shares of Glencore in a research note on Monday, October 5th. JPMorgan Chase & Co. lowered their price objective on Glencore from GBX 520 to GBX 510 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. Citigroup increased their target price on Glencore from GBX 770 to GBX 780 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Jefferies Financial Group restated a "buy" rating and set a GBX 700 target price on shares of Glencore in a research report on Monday, July 6th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 600 price target on shares of Glencore in a research note on Monday, July 27th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of GBX 666.67.

Glencore Trading Down 1.8%

Shares of GLEN stock opened at GBX 524 on Friday. Glencore has a 52-week low of GBX 332.20 and a 52-week high of GBX 633.90. The stock has a market cap of £61.44 billion, a price-to-earnings ratio of 11.64, a P/E/G ratio of 0.43 and a beta of 0.51. The company has a debt-to-equity ratio of 108.47, a quick ratio of 0.32 and a current ratio of 1.06. The firm has a fifty day moving average of GBX 573.85 and a 200-day moving average of GBX 547.74.

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.

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