Glencore plc (LON:GLEN) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Glencore plc (LON:GLEN) has received an average recommendation of "Moderate Buy" from six brokerages, with four firms issuing buy ratings and two hold ratings.
• The average twelve-month price target for Glencore's shares among analysts is GBX 388.33, with recent adjustments from major firms, including Deutsche Bank lowering theirs to GBX 380.
• As of midday trading, Glencore's shares were down 3.2%, reaching GBX 345.85, with a market capitalization of £40.86 billion.

Shares of Glencore plc (LON:GLEN - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is GBX 388.33.

A number of research firms recently commented on GLEN. Deutsche Bank Aktiengesellschaft lowered their price target on Glencore from GBX 400 to GBX 380 and set a "buy" rating on the stock in a report on Tuesday, August 12th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a GBX 400 price target on shares of Glencore in a research note on Friday. Citigroup boosted their target price on shares of Glencore from GBX 370 to GBX 380 and gave the company a "buy" rating in a research note on Thursday, August 14th. Royal Bank Of Canada reiterated an "outperform" rating and set a GBX 350 price objective on shares of Glencore in a research note on Monday, August 18th. Finally, Berenberg Bank cut Glencore to a "hold" rating and set a GBX 350 price target for the company. in a research report on Tuesday.

Glencore Trading Down 3.2%

Shares of LON GLEN traded down GBX 11.30 during midday trading on Friday, reaching GBX 345.85. The company had a trading volume of 34,456,285 shares, compared to its average volume of 46,116,207. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. Glencore has a one year low of GBX 205 and a one year high of GBX 426.60. The stock has a market cap of £40.86 billion, a PE ratio of -2,161.56, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The firm's fifty day moving average price is GBX 308.38 and its 200-day moving average price is GBX 289.36.

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.

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