Berenberg Bank Lowers Glencore (LON:GLEN) Price Target to GBX 600

Glencore (LON:GLEN) had its price target decreased by equities researchers at Berenberg Bank from GBX 610 to GBX 600 in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the natural resources company’s stock. Berenberg Bank’s target price indicates a potential upside of 18.37% from the company’s previous close.

A number of other research firms have also recently commented on GLEN. JPMorgan Chase & Co. raised their price target on shares of Glencore from GBX 400 to GBX 450 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Royal Bank Of Canada increased their price objective on shares of Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Glencore currently has an average rating of “Moderate Buy” and a consensus price target of GBX 470.

Glencore Price Performance

Shares of GLEN opened at GBX 506.90 on Thursday. The firm has a market cap of £59.34 billion, a PE ratio of 168.97, a price-to-earnings-growth ratio of 0.43 and a beta of 0.67. Glencore has a 52-week low of GBX 205 and a 52-week high of GBX 539.80. The business’s 50 day moving average price is GBX 485.88 and its two-hundred day moving average price is GBX 393.08. The company has a debt-to-equity ratio of 109.99, a quick ratio of 0.32 and a current ratio of 1.06.

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.
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.