UBS AG Reiterates GBX 370 Price Target for Glencore PLC (GLEN)
Glencore PLC (LON:GLEN) has been given a GBX 370 ($4.91) price objective by investment analysts at UBS AG in a note issued to investors on Wednesday, www.boersen-zeitung.de reports. The firm currently has a “neutral” rating on the natural resources company’s stock. UBS AG’s price objective would indicate a potential upside of 4.64% from the company’s previous close.
Several other equities analysts have also recently issued reports on GLEN. J P Morgan Chase & Co reduced their price target on shares of Glencore PLC from GBX 330 ($4.38) to GBX 310 ($4.11) and set a “neutral” rating on the stock in a research report on Tuesday, September 5th. BNP Paribas set a GBX 440 ($5.84) price objective on shares of Glencore PLC and gave the stock a “buy” rating in a report on Wednesday, September 6th. HSBC Holdings plc set a GBX 390 ($5.17) price objective on shares of Glencore PLC and gave the stock a “buy” rating in a report on Thursday, August 31st. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 410 ($5.44) price objective on shares of Glencore PLC in a report on Thursday, August 31st. Finally, Jefferies Group LLC lifted their price objective on Glencore PLC from GBX 400 ($5.31) to GBX 450 ($5.97) and gave the company a “buy” rating in a research report on Thursday, August 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of GBX 371.25 ($4.92).
Shares of Glencore PLC (GLEN) opened at 356.80 on Wednesday. The firm’s 50-day moving average is GBX 352.24 and its 200-day moving average is GBX 317.27. Glencore PLC has a 52 week low of GBX 213.00 and a 52 week high of GBX 374.70. The company’s market cap is GBX 50.88 billion.
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In other Glencore PLC news, insider Martin J. Gilbert purchased 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average price of GBX 338 ($4.48) per share, with a total value of £169,000 ($224,167.66).
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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