Glencore (LON:GLEN) Stock Rating Lowered by Berenberg Bank

Key Points

• Berenberg Bank has downgraded Glencore's stock rating to a "hold," with a target price of GBX 350, indicating a possible downside of 2.44% from the current price.
• Analysts' opinions are mixed, with Deutsche Bank lowering its price target to GBX 380 while Royal Bank of Canada maintained an "outperform" rating with a target of GBX 350.
• Glencore shares saw a slight increase of 0.6% on Tuesday, reaching GBX 358.75 during trading hours, with a significant trading volume compared to its average.

Glencore (LON:GLEN - Get Free Report) was downgraded by equities researchers at Berenberg Bank to a "hold" rating in a research note issued on Tuesday, MarketBeat.com reports. They presently have a GBX 350 target price on the natural resources company's stock. Berenberg Bank's price target indicates a potential downside of 2.44% from the company's current price.

A number of other analysts have also commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Glencore from GBX 400 to GBX 380 and set a "buy" rating for the company in a report on Tuesday, August 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a GBX 350 price target on shares of Glencore in a report on Monday, August 18th. Finally, Citigroup boosted their target price on shares of Glencore from GBX 370 to GBX 380 and gave the company a "buy" rating in a report on Thursday, August 14th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Glencore has an average rating of "Moderate Buy" and a consensus price target of GBX 386.

Glencore Stock Up 0.6%

Shares of GLEN traded up GBX 2.15 during trading hours on Tuesday, hitting GBX 358.75. The stock had a trading volume of 312,254,750 shares, compared to its average volume of 47,396,637. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The firm has a 50 day simple moving average of GBX 306.38 and a 200-day simple moving average of GBX 288.50. The firm has a market capitalization of £42.38 billion, a P/E ratio of -2,242.19, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. Glencore has a 1-year low of GBX 205 and a 1-year high of GBX 426.60.

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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