Glencore PLC Receives Buy Rating from Societe Generale (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “buy” rating reiterated by stock analysts at Societe Generale in a report issued on Tuesday. They currently have a GBX 385 ($6.54) target price on the stock. Societe Generale’s target price indicates a potential upside of 19.38% from the stock’s previous close.
Glencore PLC (LON:GLEN) traded up 0.87% during mid-day trading on Tuesday, hitting GBX 325.30. The stock had a trading volume of 28,936,790 shares. 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 324.3 and its 200-day moving average is GBX 319.1. The company’s market cap is £42.685 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Investec upgraded shares of Glencore PLC to a “hold” rating in a research note on Monday. They now have a GBX 319 ($5.42) price target on the stock, up previously from GBX 302 ($5.13). Separately, 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. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of GBX 361.25 ($6.13).
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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