Glencore (LON:GLEN) Price Target Raised to GBX 370

Key Points

• Citigroup has raised Glencore's price target from GBX 350 to GBX 370, indicating a potential upside of 23.19% from its current price.
• Five investment analysts have rated Glencore's stock with a buy rating, contributing to a consensus price target of GBX 388.
• Glencore's current stock price opened at GBX 300.35, with a market capitalization of £45.82 billion and a 1-year price range between GBX 205 and GBX 438.80.

Glencore (LON:GLEN - Free Report) had its target price increased by Citigroup from GBX 350 ($4.65) to GBX 370 ($4.92) in a research note published on Friday, Marketbeat reports. The firm currently has a buy rating on the natural resources company's stock.

GLEN has been the topic of a number of other reports. Berenberg Bank increased their price target on Glencore from GBX 330 ($4.39) to GBX 350 ($4.65) and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 400 ($5.32) price target on shares of Glencore in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada dropped their price target on Glencore from GBX 380 ($5.05) to GBX 360 ($4.78) and set an "outperform" rating on the stock in a research report on Wednesday, July 2nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of GBX 388 ($5.16).

Glencore Stock Up 0.7%

LON GLEN traded up GBX 2.05 ($0.03) on Friday, hitting GBX 301.05 ($4.00). 30,432,314 shares of the stock traded hands, compared to its average volume of 46,694,742. The stock has a 50-day moving average of GBX 296.53 and a 200 day moving average of GBX 297.97. Glencore has a twelve month low of GBX 205 ($2.72) and a twelve month high of GBX 438.80 ($5.83). The company has a market capitalization of £45.92 billion, a P/E ratio of -84.31, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14.

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.