Jefferies Group LLC Reaffirms Buy Rating for Glencore PLC (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Group LLC in a note issued to investors on Wednesday. They currently have a GBX 380 ($4.94) target price on the natural resources company’s stock. Jefferies Group LLC’s target price suggests a potential upside of 30.25% from the company’s current price.
Several other research firms also recently issued reports on GLEN. Deutsche Bank AG boosted their price target on Glencore PLC from GBX 315 ($4.10) to GBX 355 ($4.62) and gave the company a “hold” rating in a research note on Friday, March 17th. Societe Generale restated a “buy” rating on shares of Glencore PLC in a research note on Monday, March 6th. Citigroup Inc restated a “buy” rating and issued a GBX 400 ($5.20) price target on shares of Glencore PLC in a research note on Friday, March 3rd. JPMorgan Chase & Co. restated an “underweight” rating and issued a GBX 260 ($3.38) price target on shares of Glencore PLC in a research note on Friday, February 24th. Finally, Credit Suisse Group AG boosted their price target on Glencore PLC from GBX 380 ($4.94) to GBX 400 ($5.20) and gave the company an “outperform” rating in a research note on Friday, February 24th. Four analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 343.65 ($4.47).
Shares of Glencore PLC (LON:GLEN) traded down 0.07% on Wednesday, hitting GBX 291.75. The company had a trading volume of 43,474,382 shares. Glencore PLC has a 12-month low of GBX 124.55 and a 12-month high of GBX 347.00. The company’s market capitalization is GBX 41.58 billion. The firm has a 50-day moving average price of GBX 300.12 and a 200 day moving average price of GBX 302.37.
The business also recently declared a dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Thursday, September 7th will be paid a €0.04 ($0.04) dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a dividend yield of 0.84%.
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Glencore PLC Company Profile
Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.
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