Glencore (LON:GLEN – Get Rating) has been assigned a GBX 630 ($7.89) price objective by equities researchers at JPMorgan Chase & Co. in a report issued on Monday. JPMorgan Chase & Co.’s price target points to a potential upside of 29.30% from the stock’s previous close.
Several other brokerages have also recently issued reports on GLEN. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 580 ($7.27) target price on shares of Glencore in a report on Thursday, May 26th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research note on Wednesday, May 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a GBX 590 ($7.39) price target on shares of Glencore in a research note on Wednesday, May 11th. Barclays upped their price target on Glencore from GBX 730 ($9.15) to GBX 770 ($9.65) and gave the company an “overweight” rating in a research note on Wednesday, May 25th. Finally, The Goldman Sachs Group set a GBX 710 ($8.90) price target on Glencore in a research note on Wednesday, June 8th. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 599.75 ($7.52).
LON:GLEN traded down GBX 18.24 ($0.23) during trading hours on Monday, hitting GBX 487.26 ($6.11). The company had a trading volume of 45,292,404 shares, compared to its average volume of 49,050,121. The company has a current ratio of 1.17, a quick ratio of 0.32 and a debt-to-equity ratio of 94.11. The company has a 50-day moving average of GBX 504.39 and a 200 day moving average of GBX 447.78. The company has a market cap of £64.04 billion and a P/E ratio of 16.46. Glencore has a 1 year low of GBX 289.65 ($3.63) and a 1 year high of GBX 548.30 ($6.87).
About Glencore (Get Rating)
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
