Glencore’s (GLEN) Conviction-Buy Rating Reiterated at Goldman Sachs Group
Glencore (LON:GLEN)‘s stock had its “conviction-buy” rating reissued by stock analysts at Goldman Sachs Group in a report issued on Wednesday.
GLEN has been the topic of several other reports. Jefferies Group upped their price target on Glencore from GBX 400 ($5.38) to GBX 450 ($6.06) and gave the company a “buy” rating in a research report on Thursday, August 31st. Deutsche Bank reiterated a “buy” rating on shares of Glencore in a research report on Wednesday, November 1st. UBS set a GBX 350 ($4.71) price target on Glencore and gave the company a “buy” rating in a research report on Wednesday, August 30th. Liberum Capital cut Glencore to a “sell” rating and upped their price target for the company from GBX 285 ($3.84) to GBX 300 ($4.04) in a research report on Thursday, October 26th. Finally, Macquarie reiterated an “outperform” rating and set a GBX 395 ($5.32) price target on shares of Glencore in a research report on Friday, September 15th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of GBX 396.43 ($5.34).
Shares of Glencore (LON:GLEN) traded up GBX 8.75 ($0.12) on Wednesday, hitting GBX 362.75 ($4.88). The stock had a trading volume of 59,300,589 shares, compared to its average volume of 36,030,000. Glencore has a 12-month low of GBX 260.50 ($3.51) and a 12-month high of GBX 388.25 ($5.23).
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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