Glencore (LON:GLEN) Receives Buy Rating from Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Glencore (LON:GLEN) in a research note published on Monday morning,Digital Look reports. They currently have a GBX 700 target price on the natural resources company’s stock.

Other research analysts have also issued reports about the company. Berenberg Bank reissued a “buy” rating and set a GBX 780 price target on shares of Glencore in a research report on Wednesday, July 1st. JPMorgan Chase & Co. raised their price objective on Glencore from GBX 500 to GBX 560 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 600 target price on shares of Glencore in a research note on Thursday, July 2nd. Finally, Citigroup raised their price target on shares of Glencore from GBX 6,700 to GBX 7,700 and gave the stock a “buy” rating in a report on Thursday, June 4th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,786.67.

Glencore Price Performance

GLEN opened at GBX 514 on Monday. The stock has a fifty day moving average of GBX 563.89 and a 200-day moving average of GBX 521.81. The firm has a market capitalization of £60.22 billion, a P/E ratio of 171.33, a PEG ratio of 0.43 and a beta of 0.51. Glencore has a 12-month low of GBX 275.20 and a 12-month high of GBX 707.20. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 106.72.

About Glencore

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.