Barclays Reaffirms Overweight Rating for Glencore (LON:GLEN)

Barclays reaffirmed their overweight rating on shares of Glencore (LON:GLENGet Rating) in a report published on Tuesday, Marketbeat Ratings reports. Barclays currently has a GBX 700 ($8.46) price target on the natural resources company’s stock.

Several other research firms have also weighed in on GLEN. Jefferies Financial Group set a GBX 625 ($7.55) price objective on Glencore in a research note on Thursday, August 4th. Berenberg Bank cut their price target on Glencore from GBX 580 ($7.01) to GBX 560 ($6.77) and set a buy rating on the stock in a research note on Tuesday, June 28th. Credit Suisse Group set a GBX 720 ($8.70) price target on Glencore in a research note on Tuesday, September 6th. set a GBX 560 ($6.77) price target on Glencore in a research note on Monday, August 1st. Finally, UBS Group set a GBX 540 ($6.52) price target on Glencore in a research note on Monday, August 8th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of Buy and an average target price of GBX 587.69 ($7.10).

Glencore Stock Performance

LON:GLEN opened at GBX 482.95 ($5.84) on Tuesday. The stock’s 50-day simple moving average is GBX 464.75 and its 200 day simple moving average is GBX 480.23. The firm has a market capitalization of £62.90 billion and a PE ratio of 449.44. The company has a quick ratio of 0.32, a current ratio of 1.24 and a debt-to-equity ratio of 70.19. Glencore has a twelve month low of GBX 318.57 ($3.85) and a twelve month high of GBX 548.30 ($6.63).

Glencore Company Profile

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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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