Glencore (LON:GLEN) Earns Buy Rating from Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank reaffirmed its “buy” rating on Glencore and set a GBX 630 price target, implying approximately 9.89% upside from the prior close.
• Analyst sentiment remains positive overall: five analysts rate Glencore a buy and one rates it a hold, producing a consensus “Moderate Buy” rating.
• Glencore opened at GBX 573.30, with a market capitalization of approximately £67.18 billion and a 12-month trading range of GBX 275.20 to GBX 621.40.

Glencore (LON:GLEN - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at Deutsche Bank Aktiengesellschaft in a report released on Thursday,London Stock Exchange reports. They presently have a GBX 630 target price on the natural resources company's stock. Deutsche Bank Aktiengesellschaft's price target indicates a potential upside of 9.89% from the stock's previous close.

GLEN has been the subject of a number of other research reports. Berenberg Bank cut their target price on shares of Glencore from GBX 780 to GBX 750 and set a "buy" rating for the company in a research note on Thursday, July 30th. Jefferies Financial Group restated a "buy" rating and set a GBX 700 price target on shares of Glencore in a research report on Monday, July 6th. JPMorgan Chase & Co. dropped their price target on Glencore from GBX 520 to GBX 510 and set a "neutral" rating for the company in a report on Thursday, July 30th. Citigroup lifted their price objective on Glencore from GBX 6,700 to GBX 7,700 and gave the company a "buy" rating in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 600 price objective on shares of Glencore in a research note on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of GBX 1,815.

Glencore Price Performance

LON:GLEN opened at GBX 573.30 on Thursday. The firm has a market cap of £67.18 billion, a PE ratio of 191.10, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51. Glencore has a 12 month low of GBX 275.20 and a 12 month high of GBX 621.40. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 106.72. The company's 50-day moving average price is GBX 544.77 and its two-hundred day moving average price is GBX 538.51.

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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