Glencore PLC’s Buy Rating Reaffirmed at Deutsche Bank (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “buy” rating reaffirmed by Deutsche Bank in a research note issued on Wednesday. They currently have a GBX 400 ($6.64) price target on the stock. Deutsche Bank’s target price would suggest a potential upside of 8.83% from the stock’s previous close.
Shares of Glencore PLC (LON:GLEN) traded up 0.61% on Wednesday, hitting GBX 369.80. The stock had a trading volume of 29,824,646 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 363. and its 200-day moving average is GBX 333.6. The company’s market cap is £48.533 billion.
A number of other analysts have also recently weighed in on GLEN. Analysts at Investec upgraded shares of Glencore PLC to an “add” rating in a research note on Wednesday. They now have a GBX 380 ($6.31) price target on the stock, up previously from GBX 360 ($5.97). Separately, 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. Finally, 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of GBX 368.56 ($6.12).
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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