Glencore PLC’s (GLEN) Buy Rating Reaffirmed at Citigroup Inc.
Glencore PLC (LON:GLEN)‘s stock had its “buy” rating reissued by analysts at Citigroup Inc. in a research note issued to investors on Wednesday.
A number of other research firms have also weighed in on GLEN. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a GBX 365 ($4.74) target price (down previously from GBX 390 ($5.06)) on shares of Glencore PLC in a research note on Tuesday, April 25th. J P Morgan Chase & Co increased their target price on Glencore PLC from GBX 330 ($4.28) to GBX 340 ($4.41) and gave the stock a “neutral” rating in a research note on Tuesday, May 2nd. Barclays PLC reiterated an “overweight” rating and issued a GBX 400 ($5.19) target price on shares of Glencore PLC in a research note on Wednesday, May 3rd. Deutsche Bank AG reduced their target price on Glencore PLC from GBX 330 ($4.28) to GBX 290 ($3.76) and set a “hold” rating on the stock in a research note on Thursday, May 4th. Finally, Macquarie upgraded Glencore PLC to an “outperform” rating and set a GBX 385 ($5.00) target price on the stock in a research note on Monday, May 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of GBX 354.29 ($4.60).
Glencore PLC (LON:GLEN) traded up 1.29% during midday trading on Wednesday, reaching GBX 353.10. 27,175,649 shares of the company’s stock were exchanged. The stock’s market cap is GBX 50.36 billion. Glencore PLC has a 12 month low of GBX 171.50 and a 12 month high of GBX 353.60. The firm has a 50 day moving average of GBX 325.53 and a 200-day moving average of GBX 310.85.
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In other news, insider Martin J. Gilbert acquired 50,000 shares of Glencore PLC stock in a transaction dated Thursday, August 10th. The stock was purchased at an average cost of GBX 338 ($4.39) per share, for a total transaction 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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