JPMorgan Chase & Co. Lowers Glencore (LON:GLEN) Price Target to GBX 520

Key Points

• JPMorgan Chase & Co. cut its price target on Glencore from GBX 560 to GBX 520, while keeping a neutral rating. The new target implies only a modest upside of about 1.65% from the stock’s current price.
• Other analysts remain mostly positive on Glencore, with several firms maintaining buy or outperform ratings. MarketBeat says the stock has a consensus rating of Moderate Buy and an average price target of GBX 1,780.
• Glencore shares opened at GBX 511.55 and were essentially unchanged in Friday trading. The company has a market value of about £59.94 billion and trades well below its 52-week high of GBX 707.20.

Glencore (LON:GLEN - Get Free Report) had its price target reduced by stock analysts at JPMorgan Chase & Co. from GBX 560 to GBX 520 in a research report issued on Friday,London Stock Exchange reports. The firm presently has a "neutral" rating on the natural resources company's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 1.65% from the company's current price.

Several other equities analysts have also commented on GLEN. Citigroup upped their price target on Glencore from GBX 6,700 to GBX 7,700 and gave the company a "buy" rating in a research note on Thursday, June 4th. Berenberg Bank reissued a "buy" rating and set a GBX 780 price objective on shares of Glencore in a research report on Wednesday, July 1st. Royal Bank Of Canada restated an "outperform" rating and issued a GBX 600 price objective on shares of Glencore in a report on Thursday, July 2nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 700 target price on shares of Glencore in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of GBX 1,780.

Glencore Trading Up 0.0%

Shares of Glencore stock opened at GBX 511.55 on Friday. The firm has a market capitalization of £59.94 billion, a price-to-earnings ratio of 170.52, a PEG ratio of 0.43 and a beta of 0.51. Glencore has a fifty-two week low of GBX 275.20 and a fifty-two week high of GBX 707.20. The company has a debt-to-equity ratio of 106.72, a quick ratio of 0.32 and a current ratio of 1.06. The stock has a 50 day moving average of GBX 561.04 and a 200 day moving average of GBX 524.36.

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. With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.

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