Berenberg Bank Has Lowered Expectations for Glencore (LON:GLEN) Stock Price

Glencore (LON:GLEN) had its target price decreased by equities researchers at Berenberg Bank from GBX 400 ($5.31) to GBX 380 ($5.05) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the natural resources company’s stock. Berenberg Bank’s target price suggests a potential upside of 55.42% from the company’s current price.

GLEN has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 480 ($6.38) price objective on shares of Glencore in a report on Thursday, February 20th. Morgan Stanley raised shares of Glencore to an “overweight” rating and set a GBX 470 ($6.24) price target on the stock in a report on Tuesday, February 18th. Finally, Royal Bank of Canada decreased their target price on shares of Glencore from GBX 480 ($6.38) to GBX 440 ($5.85) and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 454 ($6.03).

Glencore Stock Up 0.0 %

Shares of GLEN opened at GBX 244.50 ($3.25) on Wednesday. The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30. The company has a 50-day simple moving average of GBX 283.54 and a 200-day simple moving average of GBX 341.92. Glencore has a 52 week low of GBX 205 ($2.72) and a 52 week high of GBX 506.72 ($6.73). The firm has a market capitalization of £37.30 billion, a P/E ratio of -68.48, a P/E/G ratio of 0.43 and a beta of 1.21.

Insider Activity

In related news, insider Liz Hewitt bought 50,000 shares of Glencore stock in a transaction on Friday, March 21st. The shares were purchased at an average price of GBX 302 ($4.01) per share, for a total transaction of £151,000 ($200,611.13). Also, insider Martin J. Gilbert bought 15,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was purchased at an average cost of GBX 285 ($3.79) per share, with a total value of £42,750 ($56,795.54). Insiders have purchased 70,000 shares of company stock valued at $20,540,000 over the last three months. 10.35% of the stock is owned by insiders.

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.