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

Glencore plc (LON:GLEN) has been given an average rating of “Buy” by the six ratings firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is GBX 454 ($6.02).

GLEN has been the topic of a number of research analyst reports. Morgan Stanley raised shares of Glencore to an “overweight” rating and set a GBX 470 ($6.24) price target on the stock in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 480 ($6.37) price target on shares of Glencore in a research note on Thursday, February 20th. Berenberg Bank cut their price objective on Glencore from GBX 400 ($5.31) to GBX 380 ($5.04) and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada decreased their target price on Glencore from GBX 480 ($6.37) to GBX 440 ($5.84) and set an “outperform” rating on the stock in a research report on Thursday, February 20th.

Glencore Stock Up 1.0 %

Glencore stock opened at GBX 246.90 ($3.28) on Monday. The business’s 50-day moving average price is GBX 282.16 and its 200 day moving average price is GBX 340.10. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. The firm has a market cap of £37.66 billion, a price-to-earnings ratio of -69.15, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. Glencore has a 52 week low of GBX 205 ($2.72) and a 52 week high of GBX 506.72 ($6.72).

Glencore Cuts Dividend

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

Insider Activity

In related news, insider Martin J. Gilbert bought 5,000 shares of the stock in a transaction on Friday, April 4th. The shares were bought at an average cost of GBX 233 ($3.09) per share, for a total transaction of £11,650 ($15,459.13). Also, insider Liz Hewitt acquired 50,000 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price of GBX 302 ($4.01) per share, for a total transaction of £151,000 ($200,371.55). In the last quarter, insiders purchased 70,000 shares of company stock worth $20,540,000. Corporate insiders own 10.35% of the company’s stock.

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.