Glencore plc (LON:GLEN – Get Free Report)’s share price passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of GBX 558.77 and traded as high as GBX 565.80. Glencore shares last traded at GBX 561.40, with a volume of 29,479,277 shares.
Analysts Set New Price Targets
Several brokerages have recently commented on GLEN. Citigroup raised their target price on Glencore from GBX 770 to GBX 780 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. reduced their price target on shares of Glencore from GBX 520 to GBX 510 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 700 price objective on shares of Glencore in a research note on Monday, July 6th. Berenberg Bank dropped their price target on shares of Glencore from GBX 750 to GBX 740 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 630 price target on shares of Glencore in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Glencore currently has a consensus rating of “Moderate Buy” and an average target price of GBX 660.
Check Out Our Latest Stock Report on GLEN
Glencore Stock Performance
Glencore Company Profile
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.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.
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