Glencore PLC Stock Rating Upgraded by Investec (GLEN)
Glencore PLC (LON:GLEN) was upgraded by stock analysts at Investec to an “add” rating in a report issued on Wednesday. The firm currently has a GBX 380 ($6.31) price objective on the stock, up from their previous price objective of GBX 360 ($5.97). Investec’s price target suggests a potential upside of 3.39% from the stock’s previous close.
A number of other analysts have also recently weighed in on GLEN. Analysts at Jefferies Group reiterated a “buy” rating on shares of Glencore PLC in a research note on Friday, August 29th. They now have a GBX 430 ($7.14) 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 Tuesday, August 26th. They now have a GBX 400 ($6.64) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Glencore PLC in a research note on Friday, August 22nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of GBX 368.56 ($6.12).
Glencore PLC (LON:GLEN) traded up 0.61% on Wednesday, hitting GBX 369.80. 29,824,646 shares of the company’s stock traded hands. 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 363. and a 200-day moving average of GBX 333.6. The company’s market cap is £48.533 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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