Glencore PLC (OTCMKTS:GLNCY) Receives $9.30 Consensus Target Price from Analysts

Glencore PLC (OTCMKTS:GLNCY) has received a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $9.30.

Several brokerages have commented on GLNCY. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research report on Friday, September 26th. Berenberg Bank set a $9.30 price target on Glencore in a research report on Wednesday, October 8th. Sanford C. Bernstein downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday. The Goldman Sachs Group downgraded Glencore to a “neutral” rating in a research report on Thursday, August 7th. Finally, Morgan Stanley restated an “overweight” rating on shares of Glencore in a research report on Wednesday, October 8th.

Glencore Stock Down 0.2%

Shares of OTCMKTS GLNCY opened at $9.15 on Tuesday. The business’s 50 day moving average is $8.56 and its two-hundred day moving average is $7.90. Glencore has a 12 month low of $5.74 and a 12 month high of $10.82.

Glencore Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 1st were paid a $0.085 dividend. This represents a dividend yield of 210.0%. The ex-dividend date was Friday, August 29th.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of 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 engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.