Glencore (LON:GLEN) Stock Price Expected to Rise, Citigroup Analyst Says

Glencore (LON:GLEN) had its price target hoisted by equities research analysts at Citigroup from GBX 370 ($5.01) to GBX 380 ($5.15) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the natural resources company’s stock. Citigroup’s price objective indicates a potential upside of 25.97% from the company’s current price.

Several other equities analysts also recently commented on GLEN. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 350 ($4.74) price target on shares of Glencore in a research note on Thursday, July 31st. Berenberg Bank upped their price objective on shares of Glencore from GBX 330 ($4.47) to GBX 350 ($4.74) and gave the company a “buy” rating in a research note on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Glencore from GBX 400 ($5.42) to GBX 380 ($5.15) and set a “buy” rating for the company in a report on Tuesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of GBX 386 ($5.23).

Glencore Stock Up 2.4%

GLEN stock opened at GBX 301.66 ($4.09) on Thursday. The firm has a market cap of £46.02 billion, a PE ratio of -84.48, a PEG ratio of 0.43 and a beta of 1.21. The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30. Glencore has a one year low of GBX 205 ($2.78) and a one year high of GBX 438.80 ($5.95). The firm’s 50 day moving average price is GBX 298.38 and its 200-day moving average price is GBX 294.12.

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.