Glencore (LON:GLEN – Get Rating) had its price target lowered by equities researchers at Morgan Stanley from GBX 590 ($7.55) to GBX 560 ($7.17) in a research report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has an “equal weight” rating on the natural resources company’s stock. Morgan Stanley’s price target would suggest a potential upside of 25.56% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Citigroup reiterated a “buy” rating and issued a GBX 650 ($8.32) price target on shares of Glencore in a research report on Tuesday, February 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 560 ($7.17) price objective on shares of Glencore in a research report on Wednesday, June 14th. Royal Bank of Canada set a GBX 540 ($6.91) price objective on shares of Glencore in a research report on Monday, April 3rd. UBS Group upgraded shares of Glencore to a “buy” rating and set a GBX 560 ($7.17) price objective on the stock in a research report on Monday, March 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Glencore from GBX 620 ($7.93) to GBX 610 ($7.81) and set an “overweight” rating on the stock in a research report on Monday, April 24th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 584.58 ($7.48).
Glencore Stock Down 1.3 %
GLEN opened at GBX 446 ($5.71) on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 64.96. Glencore has a 1-year low of GBX 395.40 ($5.06) and a 1-year high of GBX 584.50 ($7.48). The company has a market capitalization of £55.53 billion, a PE ratio of 433.01, a PEG ratio of 0.43 and a beta of 1.30. The firm’s 50 day simple moving average is GBX 449.90 and its two-hundred day simple moving average is GBX 491.68.
Glencore Company Profile
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.
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