Berenberg Bank Reiterates “Buy” Rating for Glencore (LON:GLEN)

Glencore (LON:GLEN – Get Free Report)‘s stock had its “buy” rating restated by analysts at Berenberg Bank in a research report issued to clients and investors on Wednesday,London Stock Exchange reports. They presently have a GBX 780 target price on the natural resources company’s stock. Berenberg Bank’s price target would indicate a potential upside of 52.49% from the stock’s previous close.

A number of other brokerages also recently commented on GLEN. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 720 price objective on shares of Glencore in a research report on Tuesday, June 9th. Citigroup upped their target price on Glencore from GBX 6,700 to GBX 7,700 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Glencore from GBX 500 to GBX 560 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,780.

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Glencore Stock Down 0.4%

GLEN stock opened at GBX 511.50 on Wednesday. Glencore has a twelve month low of GBX 275.20 and a twelve month high of GBX 707.20. The company has a market cap of £59.92 billion, a PE ratio of 170.50, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51. The business’s 50-day simple moving average is GBX 567.38 and its 200 day simple moving average is GBX 518.04. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 106.72.

Glencore Company Profile

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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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