Glencore (LON:GLEN) Hits New 1-Year High After Analyst Upgrade

Glencore plc (LON:GLEN) hit a new 52-week high during mid-day trading on Tuesday after Citigroup raised their price target on the stock from GBX 620 to GBX 670. Citigroup currently has a buy rating on the stock. Glencore traded as high as GBX 577.60 and last traded at GBX 575.33, with a volume of 317547344 shares traded. The stock had previously closed at GBX 564.10.

GLEN has been the topic of a number of other research reports. Berenberg Bank cut their target price on shares of Glencore from GBX 610 to GBX 600 and set a “buy” rating on the stock in a report on Thursday, March 5th. Royal Bank Of Canada raised their target price on shares of Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a 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 company. According to data from MarketBeat, Glencore presently has a consensus rating of “Moderate Buy” and an average price target of GBX 528.

Glencore Stock Performance

The stock has a fifty day moving average price of GBX 526.73 and a two-hundred day moving average price of GBX 439.85. The company has a market cap of £67.03 billion, a P/E ratio of 190.72, a PEG ratio of 0.43 and a beta of 0.55. The company has a debt-to-equity ratio of 109.99, a current ratio of 1.06 and a quick ratio of 0.32.

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.