Glencore (LON:GLEN) Receives Outperform Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Glencore (LON:GLEN) in a report released on Monday, MarketBeat.com reports. The firm currently has a GBX 600 price objective on the natural resources company’s stock.

Other analysts also recently issued research reports about the stock. Citigroup increased their target price on shares of Glencore from GBX 6,700 to GBX 7,700 and gave the company a “buy” rating in a research report on Thursday, June 4th. Berenberg Bank restated a “buy” rating and issued a GBX 780 price target on shares of Glencore in a research report on Wednesday, July 1st. JPMorgan Chase & Co. reduced their price objective on shares of Glencore from GBX 560 to GBX 520 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a GBX 700 price objective on shares of Glencore in a research report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 1,780.

Glencore Stock Down 3.4%

Shares of GLEN opened at GBX 519.10 on Monday. Glencore has a 12 month low of GBX 275.20 and a 12 month high of GBX 621.40. The company has a current ratio of 1.06, a quick ratio of 0.32 and a debt-to-equity ratio of 106.72. The company has a market capitalization of £60.83 billion, a PE ratio of 173.03, a PEG ratio of 0.43 and a beta of 0.51. The stock’s 50-day moving average price is GBX 549.30 and its two-hundred day moving average price is GBX 534.41.

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.