Glencore PLC’s (GLEN) “Outperform” Rating Reaffirmed at Macquarie
Glencore PLC (LON:GLEN)‘s stock had its “outperform” rating reissued by analysts at Macquarie in a report released on Friday. They presently have a GBX 395 ($5.10) price objective on the natural resources company’s stock. Macquarie’s price target points to a potential upside of 12.34% from the stock’s current price.
A number of other brokerages also recently issued reports on GLEN. UBS AG set a GBX 350 ($4.52) price target on shares of Glencore PLC and gave the company a “buy” rating in a report on Thursday, August 10th. HSBC Holdings plc lowered their price objective on shares of Glencore PLC from GBX 390 ($5.04) to GBX 380 ($4.91) and set a “buy” rating on the stock in a research note on Friday, July 14th. Jefferies Group LLC reissued a “buy” rating and issued a GBX 380 ($4.91) price objective on shares of Glencore PLC in a research note on Wednesday, May 24th. Goldman Sachs Group, Inc. (The) set a GBX 400 ($5.17) price objective on shares of Glencore PLC and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Glencore PLC in a research note on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of GBX 359.08 ($4.64).
Shares of Glencore PLC (GLEN) traded down 2.02% during mid-day trading on Friday, hitting GBX 344.50. 61,960,512 shares of the stock traded hands. The firm’s market cap is GBX 49.13 billion. Glencore PLC has a 12-month low of GBX 179.50 and a 12-month high of GBX 377.00. The firm’s 50 day moving average price is GBX 347.96 and its 200 day moving average price is GBX 315.55.
In related news, insider Martin J. Gilbert acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were acquired at an average cost of GBX 338 ($4.37) per share, for a total transaction of £169,000 ($218,261.66).
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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