Glencore plc (LON:GLEN) Given Consensus Rating of “Buy” by Brokerages

Shares of Glencore plc (LON:GLEN) have earned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is GBX 476.43 ($6.09).

Several brokerages have issued reports on GLEN. Citigroup reiterated a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. Royal Bank of Canada cut their target price on Glencore from GBX 480 ($6.13) to GBX 440 ($5.62) and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Berenberg Bank assumed coverage on shares of Glencore in a report on Monday, March 10th. They issued a “buy” rating and a GBX 380 ($4.86) price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 480 ($6.13) price objective on shares of Glencore in a research note on Thursday, February 20th. Finally, Morgan Stanley raised shares of Glencore to an “overweight” rating and set a GBX 470 ($6.01) price target on the stock in a report on Tuesday, February 18th.

Insider Buying and Selling at Glencore

In other Glencore news, insider Liz Hewitt acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average price of GBX 302 ($3.86) per share, with a total value of £151,000 ($192,946.59). Also, insider Martin J. Gilbert bought 5,000 shares of the firm’s stock in a transaction on Friday, April 4th. The stock was purchased at an average price of GBX 233 ($2.98) per share, for a total transaction of £11,650 ($14,886.28). Over the last ninety days, insiders purchased 70,000 shares of company stock valued at $20,540,000. 10.35% of the stock is owned by company insiders.

Glencore Trading Down 0.2 %

Shares of LON GLEN opened at GBX 238.20 ($3.04) on Thursday. Glencore has a twelve month low of GBX 205 ($2.62) and a twelve month high of GBX 506.72 ($6.47). The firm has a market cap of £36.34 billion, a PE ratio of -66.71, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The business has a fifty day simple moving average of GBX 311.01 and a two-hundred day simple moving average of GBX 358.88. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14.

Glencore Cuts Dividend

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

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.