Societe Generale Reiterates Buy Rating for Glencore PLC (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “buy” rating restated by equities research analysts at Societe Generale in a research note issued to investors on Friday. They currently have a GBX 405 ($6.77) price objective on the stock. Societe Generale’s price objective suggests a potential upside of 11.88% from the stock’s previous close.
Glencore PLC (LON:GLEN) opened at 361.45 on Friday. Glencore PLC has a one year low of GBX 295.80 and a one year high of GBX 379.45. The stock has a 50-day moving average of GBX 358.7 and a 200-day moving average of GBX 331.4. The company’s market cap is £47.428 billion.
A number of other firms have also recently commented on GLEN. Analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Glencore PLC in a research note on Wednesday. They now have a GBX 400 ($6.69) 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 Friday, August 15th. They now have a GBX 400 ($6.69) price target on the stock. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Glencore PLC in a research note on Thursday, August 14th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 368.16 ($6.15).
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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