Glencore PLC (GLEN) Stock Rating Reaffirmed by Macquarie
Glencore PLC (LON:GLEN)‘s stock had its “neutral” rating reissued by investment analysts at Macquarie in a research report issued on Monday. They currently have a GBX 200 ($2.48) price objective on the natural resources company’s stock. Macquarie’s target price would suggest a potential downside of 12.38% from the stock’s previous close.
A number of other analysts also recently issued reports on GLEN. BNP Paribas reaffirmed an “outperform” rating and issued a GBX 175 ($2.17) price objective on shares of Glencore PLC in a research note on Monday, June 27th. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a GBX 140 ($1.73) target price (up previously from GBX 90 ($1.11)) on shares of Glencore PLC in a report on Tuesday, June 28th. Morgan Stanley set a GBX 138 ($1.71) target price on Glencore PLC and gave the stock a “neutral” rating in a report on Wednesday, June 29th. Haitong Bank upgraded Glencore PLC to a “buy” rating and lifted their target price for the stock from GBX 141 ($1.75) to GBX 194 ($2.40) in a report on Thursday, June 30th. Finally, Credit Suisse Group AG reiterated an “outperform” rating and issued a GBX 160 ($1.98) target price on shares of Glencore PLC in a report on Thursday, June 30th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of GBX 177.61 ($2.20).
Glencore PLC (LON:GLEN) opened at 231.65 on Monday. Glencore PLC has a 12-month low of GBX 69.26 and a 12-month high of GBX 240.57. The firm has a 50-day moving average price of GBX 199.56 and a 200-day moving average price of GBX 168.76. The company’s market cap is GBX 32.96 billion.
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About Glencore PLC
Glencore plc is an integrated producer and marketer of natural resources, with activities in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products and agricultural products. The Company’s segments include metals and minerals, energy products, agricultural products, and corporate and other.
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