HSBC Reiterates “Overweight” Rating for Glencore PLC (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “overweight” rating reiterated by stock analysts at HSBC in a report issued on Friday. They currently have a GBX 430 ($7.24) price target on the stock. HSBC’s price objective would indicate a potential upside of 20.01% from the company’s current price.
Glencore PLC (LON:GLEN) opened at 356.55 on Friday. Glencore PLC has a 52-week low of GBX 272.55 and a 52-week high of GBX 379.45. The stock has a 50-day moving average of GBX 348.5 and a 200-day moving average of GBX 328.9. The company’s market cap is £46.785 billion.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group reiterated a “buy” rating on shares of Glencore PLC in a research note on Thursday. They now have a GBX 430 ($7.24) price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Glencore PLC in a research note on Wednesday. They now have a GBX 400 ($6.73) price target on the stock. Finally, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Glencore PLC in a research note on Tuesday. They now have a GBX 400 ($6.73) price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Glencore PLC presently has a consensus rating of “Hold” and an average target price of GBX 361.92 ($6.09).
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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