Glencore plc (LON:GLEN) Receives Average Rating of “Buy” from Brokerages

Glencore plc (LON:GLEN) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is GBX 476.43 ($6.16).

GLEN has been the subject of a number of recent analyst reports. Morgan Stanley raised shares of Glencore to an “overweight” rating and set a GBX 470 ($6.08) price target for the company in a report on Tuesday, February 18th. Berenberg Bank initiated coverage on shares of Glencore in a report on Monday, March 10th. They set a “buy” rating and a GBX 380 ($4.92) price objective for the company. Citigroup reissued a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. Royal Bank of Canada decreased their price objective on shares of Glencore from GBX 480 ($6.21) to GBX 440 ($5.69) and set an “outperform” rating for the company in a report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 480 ($6.21) price objective on shares of Glencore in a report on Thursday, February 20th.

Glencore Price Performance

GLEN opened at GBX 320.75 ($4.15) on Friday. The company has a fifty day simple moving average of GBX 345.51 and a 200 day simple moving average of GBX 375.25. The firm has a market cap of £48.93 billion, a price-to-earnings ratio of -89.83, a PEG ratio of 0.43 and a beta of 1.21. Glencore has a twelve month low of GBX 309.15 ($4.00) and a twelve month high of GBX 506.72 ($6.55). The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14.

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.