Glencore PLC Upgraded to “Hold” by Investec (GLEN)
Glencore PLC (LON:GLEN) was upgraded by equities researchers at Investec to a “hold” rating in a research report issued on Monday. The firm currently has a GBX 319 ($5.42) target price on the stock, up from their previous target price of GBX 302 ($5.13). Investec’s target price would indicate a potential upside of 0.31% from the company’s current price.
GLEN has been the subject of a number of other recent research reports. Analysts at Deutsche Bank cut their price target on shares of Glencore PLC from GBX 415 ($7.04) to GBX 411 ($6.98) in a research note on Friday. They now have a “buy” rating on the stock. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Glencore PLC in a research note on Thursday, June 5th. They now have a GBX 375 ($6.37) price target on the stock. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Glencore PLC in a research note on Tuesday, June 3rd. They now have a GBX 330 ($5.60) price target on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. Glencore PLC presently has a consensus rating of “Buy” and an average price target of GBX 361.96 ($6.14).
Shares of Glencore PLC (LON:GLEN) traded up 1.70% on Monday, hitting GBX 323.40. 12,564,637 shares of the company’s stock traded hands. Glencore PLC has a 1-year low of GBX 256.05 and a 1-year high of GBX 348.05. The stock’s 50-day moving average is GBX 323.9 and its 200-day moving average is GBX 318.8. The company’s market cap is £42.435 billion.
Glencore PLC, formerly 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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