Glencore's (GLEN) Outperform Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Glencore's stock has been restated with an "outperform" rating by Royal Bank Of Canada, with a price target of GBX 350 ($4.62), indicating a potential 16.53% upside.
• Other analysts, including Citigroup and Deutsche Bank, have also given "buy" ratings with price targets ranging from GBX 350 ($4.62) to GBX 400 ($5.28), reflecting positive sentiment towards Glencore.
• Despite these ratings, Glencore's stock is currently down 1.4%, trading at GBX 300.35 ($3.97), while its market capitalization stands at £45.82 billion.

Glencore (LON:GLEN - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Royal Bank Of Canada in a report issued on Thursday, Marketbeat reports. They currently have a GBX 350 ($4.65) price objective on the natural resources company's stock. Royal Bank Of Canada's price objective points to a potential upside of 16.26% from the stock's current price.

A number of other research firms have also issued reports on GLEN. Citigroup increased their target price on Glencore from GBX 350 ($4.65) to GBX 370 ($4.92) and gave the company a "buy" rating in a report on Friday. Berenberg Bank increased their price objective on Glencore from GBX 330 ($4.39) to GBX 350 ($4.65) and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 400 ($5.32) price objective on shares of Glencore in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of GBX 388 ($5.16).

Glencore Price Performance

Shares of LON:GLEN traded up GBX 2.05 ($0.03) on Thursday, reaching GBX 301.05 ($4.00). 30,432,314 shares of the company traded hands, compared to its average volume of 46,694,742. Glencore has a fifty-two week low of GBX 205 ($2.72) and a fifty-two week high of GBX 438.80 ($5.83). The company's 50 day moving average is GBX 296.53 and its 200-day moving average is GBX 297.97. The stock has a market capitalization of £45.92 billion, a PE ratio of -84.31, a P/E/G ratio of 0.43 and a beta of 1.21. 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.