Glencore PLC’s Hold Rating Reaffirmed at Investec (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “hold” rating reaffirmed by equities research analysts at Investec in a research note issued to investors on Wednesday. They currently have a GBX 319 ($5.35) target price on the stock. Investec’s target price would suggest a potential downside of 14.93% from the company’s current price.
Glencore PLC (LON:GLEN) opened at 364.30 on Wednesday. Glencore PLC has a 1-year low of GBX 289.85 and a 1-year high of GBX 379.45. The stock has a 50-day moving average of GBX 352.2 and a 200-day moving average of GBX 329.6. The company’s market cap is £47.802 billion.
A number of other firms have also recently commented on GLEN. Analysts at Liberum Capital reiterated a “hold” rating on shares of Glencore PLC in a research note on Wednesday. They now have a GBX 300 ($5.03) price target on the stock. Separately, analysts at Nomura reiterated a “neutral” rating on shares of Glencore PLC in a research note on Monday. Finally, analysts at HSBC reiterated an “overweight” rating on shares of Glencore PLC in a research note on Friday, August 8th. They now have a GBX 430 ($7.21) price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Glencore PLC presently has a consensus rating of “Hold” and a consensus price target of GBX 363.51 ($6.10).
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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