Glencore (LON:GLEN) Sets New 1-Year High – Should You Buy?

Glencore plc (LON:GLEN) reached a new 52-week high on Monday . The company traded as high as GBX 399.80 and last traded at GBX 399.25, with a volume of 140639625 shares changing hands. The stock had previously closed at GBX 394.30.

Wall Street Analysts Forecast Growth

GLEN has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Glencore from GBX 400 to GBX 450 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 350 target price on shares of Glencore in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 320 price target on shares of Glencore in a report on Wednesday, December 3rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 391.67.

Glencore Price Performance

The firm has a market cap of £46.84 billion, a P/E ratio of -24.95, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The firm’s 50 day moving average is GBX 366.47 and its 200 day moving average is GBX 328.56.

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.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.