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

A number of other research analysts have also weighed in on GLEN. Citigroup raised their price objective on Glencore from GBX 370 to GBX 380 and gave the company a "buy" rating in a research report on Thursday, August 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a GBX 350 price objective on shares of Glencore in a research report on Monday, August 18th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Glencore from GBX 400 to GBX 380 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. Five research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of GBX 386.

Glencore Stock Up 0.7%

GLEN stock traded up GBX 1.95 on Wednesday, reaching GBX 294.30. 25,041,752 shares of the company traded hands, compared to its average volume of 46,436,926. Glencore has a one year low of GBX 205 and a one year high of GBX 438.80. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The company has a market cap of £44.89 billion, a P/E ratio of -82.42, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The firm has a fifty day simple moving average of GBX 298.85 and a 200-day simple moving average of GBX 291.84.

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.