Glencore (LON:GLEN) Hits New 52-Week High – Here’s What Happened

Shares of Glencore plc (LON:GLEN) reached a new 52-week high on Monday . The stock traded as high as GBX 399.80 and last traded at GBX 399.25, with a volume of 140639625 shares. The stock had previously closed at GBX 394.30.

Wall Street Analyst Weigh In

GLEN has been the subject of several research analyst reports. Berenberg Bank reiterated a “hold” rating and issued a GBX 350 price objective on shares of Glencore in a report on Thursday, October 30th. JPMorgan Chase & Co. raised their price target on shares of Glencore from GBX 400 to GBX 450 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 320 price target on shares of Glencore in a research note on Wednesday, December 3rd. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 391.67.

Glencore Trading Up 1.2%

The firm has a market capitalization of £46.84 billion, a P/E ratio of -24.95, a P/E/G ratio of 0.43 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14. The stock has a 50 day simple moving average of GBX 366.47 and a 200-day simple moving average of GBX 328.56.

Glencore Company Profile

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.