Glencore (LON:GLEN) Price Target Cut to GBX 520 by Analysts at JPMorgan Chase & Co.

Glencore (LON:GLEN) had its target price trimmed by JPMorgan Chase & Co. from GBX 560 to GBX 520 in a research note released on Friday morning, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the natural resources company’s stock.

A number of other equities analysts have also weighed in on GLEN. Berenberg Bank restated a “buy” rating and issued a GBX 780 target price on shares of Glencore in a research note on Wednesday, July 1st. Citigroup boosted their price objective on Glencore from GBX 6,700 to GBX 7,700 and gave the stock a “buy” rating in a report on Thursday, June 4th. Jefferies Financial Group restated a “buy” rating and issued a GBX 700 price objective on shares of Glencore in a research report on Monday, July 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 600 target price on shares of Glencore in a research note on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Glencore presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,780.

Glencore Trading Down 0.1%

Shares of GLEN stock opened at GBX 510.97 on Friday. The company has a market capitalization of £59.88 billion, a PE ratio of 170.32, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51. Glencore has a 52-week low of GBX 275.20 and a 52-week high of GBX 707.20. The business’s fifty day moving average is GBX 560.14 and its 200 day moving average is GBX 524.27. The company has a debt-to-equity ratio of 106.72, a quick ratio of 0.32 and a current ratio of 1.06.

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.