Glencore's (GLEN) "Buy" Rating Reiterated at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank reaffirmed its “Buy” rating on Glencore and set a GBX 630 price target, implying 11.94% upside from the previous close.
• Analyst sentiment remains positive overall: five analysts rate Glencore a Buy and one rates it Hold, resulting in a consensus “Moderate Buy” rating and average target of GBX 660.
• Glencore shares opened at GBX 562.80, with a market capitalization of approximately £66.05 billion and a 52-week trading range of GBX 332.20 to GBX 633.90.

Glencore (LON:GLEN - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Deutsche Bank Aktiengesellschaft in a report released on Monday, London Stock Exchange reports. They presently have a GBX 630 price objective on the natural resources company's stock. Deutsche Bank Aktiengesellschaft's price objective points to a potential upside of 11.94% from the company's previous close.

A number of other research analysts have also recently weighed in on the company. Berenberg Bank lowered their price objective on Glencore from GBX 750 to GBX 740 and set a "buy" rating on the stock in a research report on Friday, August 7th. Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 600 target price on shares of Glencore in a report on Monday, July 27th. Citigroup raised their target price on shares of Glencore from GBX 770 to GBX 780 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Jefferies Financial Group reaffirmed a "buy" rating and set a GBX 700 price target on shares of Glencore in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Glencore from GBX 520 to GBX 510 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of GBX 660.

Glencore Stock Performance

Shares of GLEN opened at GBX 562.80 on Monday. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 108.47. The business has a 50-day simple moving average of GBX 571.08 and a two-hundred day simple moving average of GBX 559.05. The stock has a market cap of £66.05 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 0.43 and a beta of 0.51. Glencore has a 52 week low of GBX 332.20 and a 52 week high of GBX 633.90.

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.

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