Glencore PLC’s Buy Rating Reaffirmed at Deutsche Bank (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “buy” rating restated by equities research analysts at Deutsche Bank in a research note issued to investors on Wednesday. They currently have a GBX 400 ($6.81) price target on the stock. Deutsche Bank’s target price indicates a potential upside of 20.05% from the stock’s previous close.
Shares of Glencore PLC (LON:GLEN) traded up 0.84% during mid-day trading on Wednesday, hitting GBX 336.00. 20,888,260 shares of the company’s stock traded hands. Glencore PLC has a 52 week low of GBX 256.05 and a 52 week high of GBX 348.05. The stock’s 50-day moving average is GBX 326.1 and its 200-day moving average is GBX 320.8. The company’s market cap is £44.089 billion.
A number of other analysts have also recently weighed in on GLEN. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Glencore PLC in a research note on Monday. They now have a GBX 360 ($6.13) price target on the stock. Separately, analysts at RBC Capital reiterated an “outperform” rating on shares of Glencore PLC in a research note on Friday, June 27th. They now have a GBX 375 ($6.39) price target on the stock. Finally, analysts at Liberum Capital reiterated a “hold” rating on shares of Glencore PLC in a research note on Tuesday, June 24th. They now have a GBX 300 ($5.11) price target on the stock. Two investment 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. The stock currently has a consensus rating of “Buy” and an average price target of GBX 360.25 ($6.14).
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.