Glencore (LON:GLEN – Get Rating)‘s stock had its “outperform” rating restated by investment analysts at Royal Bank of Canada in a note issued to investors on Thursday, MarketBeat.com reports. They currently have a GBX 550 ($6.65) price objective on the natural resources company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 16.43% from the company’s previous close.
A number of other research analysts also recently weighed in on GLEN. Deutsche Bank Aktiengesellschaft set a GBX 560 ($6.77) price objective on Glencore in a research note on Monday, August 8th. Credit Suisse Group set a GBX 570 ($6.89) price objective on Glencore in a research note on Friday, August 5th. JPMorgan Chase & Co. cut their price objective on Glencore from GBX 620 ($7.49) to GBX 590 ($7.13) and set an “overweight” rating on the stock in a research note on Friday, August 5th. Barclays reissued an “overweight” rating and issued a GBX 700 ($8.46) price objective on shares of Glencore in a research note on Monday, August 8th. Finally, The Goldman Sachs Group set a GBX 600 ($7.25) target price on Glencore in a report on Monday, August 8th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of GBX 576.15 ($6.96).
Shares of GLEN stock opened at GBX 472.40 ($5.71) on Thursday. The stock’s 50 day simple moving average is GBX 455.56 and its 200 day simple moving average is GBX 467.12. The company has a debt-to-equity ratio of 94.11, a quick ratio of 0.32 and a current ratio of 1.17. Glencore has a twelve month low of GBX 302.55 ($3.66) and a twelve month high of GBX 548.30 ($6.63). The company has a market capitalization of £61.87 billion and a price-to-earnings ratio of 1,523.87.
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
