Glencore PLC Receives Buy Rating from Citigroup Inc. (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “buy” rating reiterated by equities research analysts at Citigroup Inc. in a research note issued to investors on Monday. They currently have a GBX 390 ($6.69) target price on the stock. Citigroup Inc.’s price objective would suggest a potential upside of 13.97% from the stock’s previous close.
Shares of Glencore PLC (LON:GLEN) traded up 0.09% during mid-day trading on Monday, hitting GBX 342.50. 16,520,515 shares of the company’s stock traded hands. Glencore PLC has a one year low of GBX 256.05 and a one year high of GBX 348.05. The stock has a 50-day moving average of GBX 327.6 and a 200-day moving average of GBX 321.6. The company’s market cap is £44.942 billion.
A number of other firms have also recently commented on GLEN. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Glencore PLC in a research note on Friday. They now have a GBX 380 ($6.52) price target on the stock. Separately, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Glencore PLC in a research note on Thursday. They now have a GBX 400 ($6.86) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Glencore PLC in a research note on Wednesday, July 2nd. They now have a GBX 400 ($6.86) 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 given a buy rating to the company. Glencore PLC currently has a consensus rating of “Buy” and a consensus price target of GBX 360.25 ($6.18).
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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