Glencore plc (LON:GLEN) Receives Consensus Recommendation of “Buy” from Analysts

Glencore plc (LON:GLEN) has received a consensus recommendation of “Buy” from the six brokerages that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is GBX 454 ($6.04).

A number of research firms recently weighed in on GLEN. Morgan Stanley upgraded shares of Glencore to an “overweight” rating and set a GBX 470 ($6.25) target price on the stock in a research note on Tuesday, February 18th. Berenberg Bank decreased their target price on Glencore from GBX 400 ($5.32) to GBX 380 ($5.06) and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 480 ($6.39) price objective on shares of Glencore in a report on Thursday, February 20th. Finally, Royal Bank of Canada dropped their target price on shares of Glencore from GBX 480 ($6.39) to GBX 440 ($5.85) and set an “outperform” rating for the company in a research report on Thursday, February 20th.

Glencore Stock Down 0.2 %

GLEN opened at GBX 252.30 ($3.36) on Monday. The firm’s 50 day simple moving average is GBX 275.33 and its two-hundred day simple moving average is GBX 335.06. The company has a market capitalization of £38.49 billion, a PE ratio of -70.66, a PEG ratio of 0.43 and a beta of 1.21. Glencore has a 1-year low of GBX 205 ($2.73) and a 1-year high of GBX 506.72 ($6.74). The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14.

Glencore Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, September 19th. Investors of record on Thursday, August 28th will be paid a $0.05 dividend. This represents a yield of 1.21%. The ex-dividend date of this dividend is Thursday, August 28th. Glencore’s dividend payout ratio is presently -280.06%.

Insider Transactions at Glencore

In related news, insider Liz Hewitt purchased 50,000 shares of Glencore stock in a transaction dated Friday, March 21st. The stock was purchased at an average cost of GBX 302 ($4.02) per share, with a total value of £151,000 ($200,878.01). Also, insider Martin J. Gilbert acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of GBX 233 ($3.10) per share, for a total transaction of £11,650 ($15,498.20). Over the last three months, insiders have purchased 70,000 shares of company stock valued at $20,540,000. 10.35% of the stock is currently owned by company insiders.

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.