Glencore (LON:GLEN) Earns Buy Rating from Berenberg Bank

Key Points

• Berenberg Bank has reaffirmed a "Buy" rating for Glencore (LON:GLEN) with a price target of GBX 350, indicating a potential upside of 19.59% from the stock's previous close.
• Several other brokerages have also issued positive ratings on Glencore, with a consensus rating of "Buy" and an average target price of GBX 386.
• As of the latest report, Glencore's stock was trading at GBX 292.68, with a one-year price range between GBX 205 and GBX 438.80.

Berenberg Bank restated their buy rating on shares of Glencore (LON:GLEN - Free Report) in a report released on Wednesday, MarketBeat reports. Berenberg Bank currently has a GBX 350 target price on the natural resources company's stock.

GLEN has been the topic of several other reports. Citigroup lifted their price target on shares of Glencore from GBX 370 to GBX 380 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Glencore from GBX 400 to GBX 380 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a GBX 350 price objective on shares of Glencore in a research report on Monday, August 18th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Glencore has an average rating of "Buy" and an average target price of GBX 386.

Glencore Stock Down 0.5%

Glencore stock traded down GBX 1.51 during mid-day trading on Wednesday, reaching GBX 292.79. 51,509,848 shares of the company's stock were exchanged, compared to its average volume of 46,467,891. Glencore has a twelve month low of GBX 205 and a twelve month high of GBX 438.80. The company has a fifty day moving average of GBX 298.90 and a 200-day moving average of GBX 290.95. The company has a market cap of £44.66 billion, a P/E ratio of -82.00, 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.

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.