Glencore (LON:GLEN – Get Rating) had its target price cut by equities research analysts at JPMorgan Chase & Co. from GBX 640 ($7.72) to GBX 630 ($7.60) in a research report issued on Monday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the natural resources company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 27.71% from the company’s current price.
Several other research analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft set a GBX 575 ($6.94) price objective on Glencore in a report on Thursday, February 16th. Citigroup reiterated a “buy” rating and issued a GBX 650 ($7.84) price target on shares of Glencore in a report on Tuesday, February 21st. Jefferies Financial Group set a GBX 700 ($8.45) price objective on Glencore in a research report on Wednesday, February 15th. UBS Group set a GBX 560 ($6.76) price objective on Glencore in a research report on Thursday, February 16th. Finally, Royal Bank of Canada set a GBX 540 ($6.52) price target on Glencore in a research report on Wednesday, February 15th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of GBX 615 ($7.42).
Shares of LON GLEN traded down GBX 1.10 ($0.01) during midday trading on Monday, hitting GBX 493.30 ($5.95). The company’s stock had a trading volume of 11,906,923 shares, compared to its average volume of 45,568,773. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 64.96. The business’s 50 day moving average is GBX 539.12 and its two-hundred day moving average is GBX 516.07. Glencore has a 12-month low of GBX 395.40 ($4.77) and a 12-month high of GBX 584.50 ($7.05). The firm has a market cap of £62.45 billion, a P/E ratio of 449.45, a price-to-earnings-growth ratio of 0.43 and a beta of 1.27.
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.
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