Glencore plc (LON:GLEN) Receives Average Recommendation of "Buy" from Brokerages

Glencore plc (LON:GLEN - Get Free Report) has been given an average rating of "Buy" by the six ratings firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is GBX 454 ($6.02).

GLEN has been the topic of a number of research analyst reports. Morgan Stanley raised shares of Glencore to an "overweight" rating and set a GBX 470 ($6.24) price target on the stock in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 480 ($6.37) price target on shares of Glencore in a research note on Thursday, February 20th. Berenberg Bank cut their price objective on Glencore from GBX 400 ($5.31) to GBX 380 ($5.04) and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada decreased their target price on Glencore from GBX 480 ($6.37) to GBX 440 ($5.84) and set an "outperform" rating on the stock in a research report on Thursday, February 20th.

Glencore Stock Up 1.0 %

Glencore stock opened at GBX 246.90 ($3.28) on Monday. The business's 50-day moving average price is GBX 282.16 and its 200 day moving average price is GBX 340.10. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. The firm has a market cap of £37.66 billion, a price-to-earnings ratio of -69.15, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. Glencore has a 52 week low of GBX 205 ($2.72) and a 52 week high of GBX 506.72 ($6.72).

Glencore Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, September 19th. Investors of record on Thursday, August 28th will be issued a $0.05 dividend. This represents a yield of 1.21%. The ex-dividend date is Thursday, August 28th. Glencore's dividend payout ratio (DPR) is -280.06%.

Insider Activity

In related news, insider Martin J. Gilbert bought 5,000 shares of the stock in a transaction on Friday, April 4th. The shares were bought at an average cost of GBX 233 ($3.09) per share, for a total transaction of £11,650 ($15,459.13). Also, insider Liz Hewitt acquired 50,000 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price of GBX 302 ($4.01) per share, for a total transaction of £151,000 ($200,371.55). In the last quarter, insiders purchased 70,000 shares of company stock worth $20,540,000. Corporate insiders own 10.35% of the company's stock.

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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