Glencore (LON:GLEN) Price Target Cut to GBX 380 by Analysts at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank Aktiengesellschaft has lowered its price target for Glencore from GBX 400 ($5.37) to GBX 380 ($5.10), while maintaining a "buy" rating on the stock.
• Other analysts also increased their target prices on Glencore, with average targets now around GBX 384 ($5.16), indicating a consensus rating of "Buy."
• As of the report, Glencore's stock was trading at GBX 291.11 ($3.91), with a potential upside of 30.54% from the new price target.

Glencore (LON:GLEN - Get Free Report) had its price target lowered by equities researchers at Deutsche Bank Aktiengesellschaft from GBX 400 ($5.41) to GBX 380 ($5.14) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm currently has a "buy" rating on the natural resources company's stock. Deutsche Bank Aktiengesellschaft's price target would suggest a potential upside of 29.03% from the stock's previous close.

Several other research analysts have also recently issued reports on the stock. Citigroup upped their target price on shares of Glencore from GBX 350 ($4.74) to GBX 370 ($5.01) and gave the company a "buy" rating in a report on Friday, August 1st. Berenberg Bank increased their target price on shares of Glencore from GBX 330 ($4.46) to GBX 350 ($4.74) and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a GBX 350 ($4.74) price target on shares of Glencore in a report on Thursday, July 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Glencore presently has an average rating of "Buy" and a consensus target price of GBX 386 ($5.22).

Glencore Trading Down 0.6%

GLEN traded down GBX 1.65 ($0.02) during trading hours on Tuesday, reaching GBX 294.50 ($3.98). The company's stock had a trading volume of 21,194,297 shares, compared to its average volume of 46,465,867. Glencore has a fifty-two week low of GBX 205 ($2.77) and a fifty-two week high of GBX 438.80 ($5.94). The stock has a market cap of £44.92 billion, a PE ratio of -82.48, a P/E/G ratio of 0.43 and a beta of 1.21. The business's 50-day moving average is GBX 298.11 and its 200-day moving average is GBX 294.49. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32.

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.