Glencore Xstrata PLC’s “Buy” Rating Reaffirmed at UBS AG (GLEN)
Glencore Xstrata PLC (LON:GLEN)‘s stock had its “buy” rating restated by equities researchers at UBS AG in a research report issued on Wednesday, StockRatingsNetwork.com reports. They currently have a GBX 330 ($5.14) price target on the stock. UBS AG’s price objective indicates a potential upside of 4.10% from the stock’s previous close.
Glencore Xstrata PLC (LON:GLEN) traded up 1.00% during mid-day trading on Wednesday, hitting GBX 317.00. The stock had a trading volume of 24,968,840 shares. Glencore Xstrata PLC has a 52-week low of GBX 218.80 and a 52-week high of GBX 400.00. The stock’s 50-day moving average is GBX 284.9 and its 200-day moving average is GBX 327.1.
GLEN has been the subject of a number of other recent research reports. Analysts at Liberum Capital reiterated a “buy” rating on shares of Glencore Xstrata PLC in a research note to investors on Tuesday, August 20th. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Glencore Xstrata PLC in a research note to investors on Friday, August 16th. They now have a GBX 375 ($5.84) price target on the stock. Finally, analysts at Goldman Sachs Group Inc. raised their price target on shares of Glencore Xstrata PLC from GBX 255 ($3.97) to GBX 257.50 ($4.01) in a research note to investors on Thursday, August 15th. They now have a “neutral” rating on the stock.
One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of GBX 369.01 ($5.75).
Glencore International plc is a holding company. It operates in three segments: metals and minerals, which include zinc, copper, lead, alumina, aluminium, ferro alloys, nickel, cobalt and iron ore, including smelting, refining, mining, processing and storage related operations; energy products, which includes crude oil, oil products, steam coal and metallurgical coal supported by investments in coal mining and oil production operations, ports, vessels and storage facilities, and agriculture products.
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