Glencore PLC’s “Overweight” Rating Reaffirmed at Barclays (GLEN)
Glencore PLC (LON:GLEN) opened at 360.75 on Thursday. Glencore PLC has a 52-week low of GBX 289.85 and a 52-week high of GBX 379.45. The stock’s 50-day moving average is GBX 353.1 and its 200-day moving average is GBX 329.9. The company’s market cap is £47.336 billion.
A number of other firms have also recently commented on GLEN. Analysts at Credit Suisse downgraded shares of Glencore PLC to a “neutral” rating in a research note on Thursday. They now have a GBX 380 ($6.37) price target on the stock. Separately, 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. Finally, 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of GBX 365.56 ($6.13).
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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