Glencore (LON:GLEN) Sets New 1-Year High – Here’s What Happened

Glencore plc (LON:GLEN)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 559.60 and last traded at GBX 551.88, with a volume of 39041328 shares. The stock had previously closed at GBX 539.53.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GLEN shares. JPMorgan Chase & Co. upped their target price 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 reduced their price target on shares of Glencore from GBX 610 to GBX 600 and set a “buy” rating for the company in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada lifted their price objective on shares of Glencore from GBX 530 to GBX 540 and gave the company an “outperform” rating in a research note 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 470.

Glencore Price Performance

The stock has a 50 day simple moving average of GBX 513.09 and a two-hundred day simple moving average of GBX 420.76. The firm has a market cap of £65.31 billion, a PE ratio of 186.12, a price-to-earnings-growth ratio of 0.43 and a beta of 0.67. The company has a debt-to-equity ratio of 109.99, a quick ratio of 0.32 and a current ratio of 1.06.

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.