Glencore (LON:GLEN – Get Rating) had its price target raised by stock analysts at JPMorgan Chase & Co. from GBX 590 ($7.13) to GBX 640 ($7.73) in a research report issued on Thursday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the natural resources company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 38.66% from the company’s current price.
GLEN has been the topic of a number of other reports. Morgan Stanley set a GBX 740 ($8.94) price target on Glencore in a report on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft set a GBX 560 ($6.77) price target on Glencore in a research note on Monday, August 8th. The Goldman Sachs Group set a GBX 600 ($7.25) target price on Glencore in a research note on Monday, August 8th. Barclays reiterated an “overweight” rating and set a GBX 700 ($8.46) price target on shares of Glencore in a report on Tuesday. Finally, Jefferies Financial Group set a GBX 625 ($7.55) price objective on shares of Glencore in a research note on Thursday, August 4th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of GBX 591.54 ($7.15).
Glencore Stock Down 5.8 %
LON:GLEN opened at GBX 461.55 ($5.58) on Thursday. Glencore has a 12-month low of GBX 326.60 ($3.95) and a 12-month high of GBX 548.30 ($6.63). The company has a quick ratio of 0.32, a current ratio of 1.24 and a debt-to-equity ratio of 70.19. The firm has a market capitalization of £60.11 billion and a P/E ratio of 443.80. The stock’s fifty day simple moving average is GBX 470.15 and its 200-day simple moving average is GBX 480.28.
About Glencore
Glencore plc produces, refines, processes, stores, transports, and markets metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments, Marketing Activities and Industrial Activities. The company produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.
www.ferroalloynet.com
