Beaufort Securities Reaffirms “Long Term Buy” Rating for Glencore PLC (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “long term buy” rating reaffirmed by equities research analysts at Beaufort Securities in a report released on Thursday. They currently have a GBX 400 ($5.19) target price on the natural resources company’s stock. Beaufort Securities’ target price suggests a potential upside of 15.86% from the stock’s previous close.
GLEN has been the subject of several other reports. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a GBX 365 ($4.74) target price (down from GBX 390 ($5.06)) on shares of Glencore PLC in a research report on Tuesday, April 25th. Macquarie raised Glencore PLC to an “outperform” rating and set a GBX 385 ($5.00) target price for the company in a research report on Monday, May 8th. Credit Suisse Group reaffirmed an “outperform” rating and issued a GBX 410 ($5.32) target price on shares of Glencore PLC in a research report on Wednesday, April 19th. Liberum Capital reaffirmed a “hold” rating and issued a GBX 285 ($3.70) target price on shares of Glencore PLC in a research report on Wednesday, May 10th. Finally, Barclays PLC lifted their target price on Glencore PLC from GBX 390 ($5.06) to GBX 400 ($5.19) and gave the company an “overweight” rating in a research report on Friday, April 21st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of GBX 354.29 ($4.60).
Shares of Glencore PLC (LON:GLEN) traded up 0.06% during mid-day trading on Thursday, hitting GBX 345.45. 27,361,845 shares of the stock were exchanged. The stock’s market cap is GBX 49.26 billion. Glencore PLC has a 12 month low of GBX 171.50 and a 12 month high of GBX 348.85. The company has a 50-day moving average price of GBX 319.31 and a 200-day moving average price of GBX 310.30.
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In related news, insider Martin J. Gilbert bought 50,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were acquired at an average price of GBX 338 ($4.39) per share, with a total value of £169,000 ($219,395.04).
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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