JPMorgan Chase & Co. Increases Glencore (LON:GLEN) Price Target to GBX 450

Glencore (LON:GLEN) had its price objective raised by equities researchers at JPMorgan Chase & Co. from GBX 400 to GBX 450 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage currently has a “neutral” rating on the natural resources company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 18.76% from the stock’s previous close.

GLEN has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft cut their target price on Glencore from GBX 400 to GBX 380 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 350 target price on shares of Glencore in a report on Monday, August 18th. Citigroup lifted their price target on shares of Glencore from GBX 370 to GBX 380 and gave the stock a “buy” rating in a research note on Thursday, August 14th. Finally, Berenberg Bank restated a “hold” rating and issued a GBX 350 price objective on shares of Glencore in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 391.67.

Glencore Stock Down 1.1%

Glencore stock opened at GBX 378.91 on Wednesday. The stock has a market cap of £44.66 billion, a PE ratio of -23.68, a P/E/G ratio of 0.43 and a beta of 1.21. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The stock’s fifty day moving average is GBX 354.90 and its two-hundred day moving average is GBX 316.09. Glencore has a 1-year low of GBX 205 and a 1-year high of GBX 397.40.

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.