Glencore Xstrata PLC Receives Neutral Rating from Nomura (GLEN)
Glencore Xstrata PLC (LON:GLEN)‘s stock had its “neutral” rating restated by equities research analysts at Nomura in a research note issued to investors on Wednesday, AnalystRatings.Net reports. They currently have a GBX 290 ($4.68) target price on the stock. Nomura’s target price would suggest a potential downside of 13.21% from the stock’s previous close.
Glencore Xstrata PLC (LON:GLEN) traded up 1.10% on Wednesday, hitting GBX 334.15. 16,369,430 shares of the company’s stock traded hands. Glencore Xstrata PLC has a 1-year low of GBX 256.05 and a 1-year high of GBX 399.00. The stock has a 50-day moving average of GBX 312.0 and a 200-day moving average of GBX 320.0.
A number of other firms have also recently commented on GLEN. Analysts at Bank of America Corp. reiterated a “buy” rating on shares of Glencore Xstrata PLC (LON:GLEN) in a research note to investors on Friday, September 27th. They now have a GBX 400 ($6.45) price target on the stock. Separately, analysts at Macquarie reiterated an “outperform” rating on shares of Glencore Xstrata PLC (LON:GLEN) in a research note to investors on Thursday, September 26th. They now have a GBX 390 ($6.29) price target on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Glencore Xstrata PLC (LON:GLEN) from GBX 379 ($6.11) to GBX 367 ($5.92) in a research note to investors on Thursday, September 26th. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of GBX 364.39 ($5.88).
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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