Glencore (LON:GLEN) Price Target Raised to GBX 380

Key Points

• Citigroup raised Glencore's price target from GBX 370 to GBX 380, indicating a potential upside of 29.03% from its previous closing.
• Five equities research analysts have rated Glencore's stock as a buy, with an average target price of GBX 386.
• Glencore's shares fell by 0.6% during trading hours, reaching GBX 294.50, with significant trading volumes reported.

Glencore (LON:GLEN - Get Free Report) had its price objective boosted by investment analysts at Citigroup from GBX 370 ($5.02) to GBX 380 ($5.16) in a note issued to investors on Thursday,Digital Look reports. The brokerage presently has a "buy" rating on the natural resources company's stock. Citigroup's price target would indicate a potential upside of 29.03% from the stock's previous close.

Several other brokerages have also recently weighed in on GLEN. Berenberg Bank raised their price target on shares of Glencore from GBX 330 ($4.48) to GBX 350 ($4.75) and gave the company a "buy" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada reissued an "outperform" rating and set a GBX 350 ($4.75) target price on shares of Glencore in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Glencore from GBX 400 ($5.43) to GBX 380 ($5.16) and set a "buy" rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of GBX 386 ($5.24).

Glencore Stock Down 0.6%

Shares of GLEN traded down GBX 1.65 ($0.02) during trading hours on Thursday, reaching GBX 294.50 ($4.00). The stock had a trading volume of 21,194,297 shares, compared to its average volume of 46,465,867. Glencore has a 12 month low of GBX 205 ($2.78) and a 12 month high of GBX 438.80 ($5.96). The firm has a 50-day simple moving average of GBX 298.08 and a 200 day simple moving average of GBX 294.95. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14. The company has a market capitalization of £44.92 billion, a price-to-earnings ratio of -82.48, a P/E/G ratio of 0.43 and a beta of 1.21.

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.

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