HSBC Reiterates Overweight Rating for Glencore Xstrata PLC (GLEN)
Glencore Xstrata PLC (LON:GLEN)‘s stock had its “overweight” rating reiterated by HSBC in a research note issued on Tuesday, Analyst RN reports. They currently have a GBX 420 ($7.06) price objective on the stock. HSBC’s price objective would suggest a potential upside of 33.09% from the company’s current price.
A number of other firms have also recently commented on GLEN. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Glencore Xstrata PLC in a research note on Monday. They now have a GBX 382 ($6.42) price target on the stock. Separately, analysts at BNP Paribas reiterated an “outperform” rating on shares of Glencore Xstrata PLC in a research note on Thursday, April 17th. They now have a GBX 410 ($6.89) price target on the stock. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of GBX 359.71 ($6.04).
Glencore Xstrata PLC (LON:GLEN) traded up 0.97% on Tuesday, hitting GBX 315.58. 14,411,373 shares of the company’s stock traded hands. Glencore Xstrata PLC has a 52-week low of GBX 256.05 and a 52-week high of GBX 357.10. The stock has a 50-day moving average of GBX 311.5 and a 200-day moving average of GBX 320.4.
Glencore Xstrata Plc is a diversified natural resource company. The Company operates in three segments: Metals and Minerals, which includes copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore; Energy Products, which includes controlled and non-controlled coal mining and oil production operations and investments in strategic handling, storage and freight equipment and facilities, and Agricultural Products, which focuses on grains, oils/oilseeds, cotton and sugar.
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