Glencore PLC Lowered to “Neutral” at Credit Suisse (GLEN)
Glencore PLC (LON:GLEN) was downgraded by Credit Suisse to a “neutral” rating in a research note issued on Thursday. They currently have a GBX 380 ($6.37) target price on the stock. Credit Suisse’s price target would suggest a potential upside of 3.97% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Glencore PLC in a research note on Thursday. They now have a GBX 400 ($6.71) price target on the stock. Separately, analysts at Investec raised their price target on shares of Glencore PLC from GBX 319 ($5.35) to GBX 360 ($6.04) in a research note on Wednesday. They now have a “hold” rating on the stock. Finally, 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of GBX 365.56 ($6.13).
Shares of Glencore PLC (LON:GLEN) traded down 1.33% during mid-day trading on Thursday, hitting GBX 360.65. 23,496,408 shares of the company’s stock traded hands. Glencore PLC has a 1-year low of GBX 289.85 and a 1-year high of GBX 379.45. The stock’s 50-day moving average is GBX 354.0 and its 200-day moving average is GBX 330.1. The company’s market cap is £47.323 billion.
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.