Glencore (LON:GLEN) Hits New 1-Year High After Analyst Upgrade

Key Points

• After Citigroup raised its price target from GBX 620 to GBX 670 and kept a buy rating, Glencore hit a new 52-week high, trading as high as GBX 577.60 and last at GBX 575.33 on heavy volume.
• Other analysts are mixed but the stock holds a consensus “Moderate Buy” with an average price target of GBX 528, while individual notes include RBC raising its target to GBX 540 and Berenberg trimming theirs to GBX 600.
• Fundamentals show a market cap of £67.4bn, a high P/E of 191.78 and a substantial debt-to-equity ratio of 109.99 with low liquidity (quick ratio 0.32), although technicals point to an uptrend (50-day GBX 525.47 vs 200-day GBX 438.19).

Glencore plc (LON:GLEN - Get Free Report) reached a new 52-week high on Tuesday after Citigroup raised their price target on the stock from GBX 620 to GBX 670. Citigroup currently has a buy rating on the stock. Glencore traded as high as GBX 577.60 and last traded at GBX 575.33, with a volume of 317547344 shares. The stock had previously closed at GBX 564.10.

GLEN has been the topic of several other research reports. Royal Bank Of Canada increased their target price on Glencore from GBX 530 to GBX 540 and gave the stock an "outperform" rating in a research note on Wednesday, February 4th. Berenberg Bank decreased their target price on Glencore from GBX 610 to GBX 600 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of GBX 528.

Glencore Stock Up 2.0%

The company has a debt-to-equity ratio of 109.99, a quick ratio of 0.32 and a current ratio of 1.06. The company has a market cap of £67.40 billion, a price-to-earnings ratio of 191.78, a price-to-earnings-growth ratio of 0.43 and a beta of 0.55. The business has a 50-day simple moving average of GBX 525.47 and a 200-day simple moving average of GBX 438.19.

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. 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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