Glencore PLC Receives “Buy” Rating from Jefferies Group (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “buy” rating reissued by analysts at Jefferies Group in a research report issued to clients and investors on Friday. They currently have a GBX 430 ($7.12) price objective on the stock. Jefferies Group’s price target points to a potential upside of 19.28% from the stock’s previous close.
A number of other analysts have also recently weighed in on GLEN. 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 ($6.62) price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Glencore PLC in a research note on Friday, August 22nd. Finally, analysts at Credit Suisse reiterated a “neutral” rating on shares of Glencore PLC in a research note on Friday, August 22nd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of GBX 365.86 ($6.05).
Glencore PLC (LON:GLEN) traded down 0.03% on Friday, hitting GBX 360.40. The stock had a trading volume of 10,796,813 shares. Glencore PLC has a 52 week low of GBX 295.80 and a 52 week high of GBX 379.45. The stock’s 50-day moving average is GBX 361.5 and its 200-day moving average is GBX 332.. The company’s market cap is £47.299 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.
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