JPMorgan Chase & Co. Reiterates “Overweight” Rating for Glencore Xstrata PLC (GLEN)
Glencore Xstrata PLC (LON:GLEN)‘s stock had its “overweight” rating restated by research analysts at JPMorgan Chase & Co. in a report released on Thursday, AmericanBankingNews.com reports.
A number of other firms have also recently commented on GLEN. Analysts at HSBC initiated coverage on shares of Glencore Xstrata PLC in a research note to investors on Wednesday. They set an “overweight” rating and a GBX 420 ($6.89) price target on the stock. Separately, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Glencore Xstrata PLC in a research note to investors on Tuesday. They now have a GBX 450 ($7.39) price target on the stock. Finally, analysts at Investec cut their price target on shares of Glencore Xstrata PLC from GBX 307 ($5.04) to GBX 299 ($4.91) in a research note to investors on Thursday, January 16th. They now have a “sell” rating on the stock. Five analysts have rated the stock with a sell rating, four have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of GBX 363.44 ($5.97).
Glencore Xstrata PLC (LON:GLEN) traded down 0.87% on Thursday, hitting GBX 332.10. The stock had a trading volume of 24,109,084 shares. Glencore Xstrata PLC has a one year low of GBX 256.05 and a one year high of GBX 399.00. The stock’s 50-day moving average is GBX 312.7 and its 200-day moving average is GBX 313.6.
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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