Glencore (LON:GLEN) PT Raised to GBX 770 at Barclays

Glencore (LON:GLENGet Rating) had its price target lifted by research analysts at Barclays from GBX 461 ($5.65) to GBX 770 ($9.43) in a report issued on Monday, Marketbeat Ratings reports. The brokerage currently has an “overweight” rating on the natural resources company’s stock. Barclays‘s price objective indicates a potential upside of 59.21% from the stock’s previous close.

GLEN has been the subject of several other reports. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research report on Wednesday, May 11th. Jefferies Financial Group set a GBX 650 ($7.96) target price on Glencore in a research report on Monday. Royal Bank of Canada set a GBX 550 ($6.74) price objective on Glencore in a research report on Monday. The Goldman Sachs Group set a GBX 710 ($8.70) price objective on Glencore in a research report on Wednesday, June 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Glencore from GBX 630 ($7.72) to GBX 650 ($7.96) and gave the stock a “top pick” rating in a research report on Monday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of GBX 598.45 ($7.33).

Shares of LON:GLEN opened at GBX 483.65 ($5.92) on Monday. The firm has a market cap of £63.56 billion and a P/E ratio of 15.87. The company has a quick ratio of 0.32, a current ratio of 1.17 and a debt-to-equity ratio of 94.11. Glencore has a 12-month low of GBX 290.96 ($3.56) and a 12-month high of GBX 548.30 ($6.72). The business has a fifty day simple moving average of GBX 499.43 and a 200 day simple moving average of GBX 452.76.

Glencore Company Profile (Get Rating)

Glencore plc produces, refines, processes, stores, transports, and markets metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments, Marketing Activities and Industrial Activities. The company produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.

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Analyst Recommendations for Glencore (LON:GLEN)

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