Glencore (LON:GLEN) had its target price upped by investment analysts at HSBC from GBX 420 ($5.49) to GBX 450 ($5.88) in a report issued on Friday. The firm presently has a “buy” rating on the natural resources company’s stock. HSBC’s target price points to a potential upside of 43.63% from the company’s previous close.
GLEN has been the subject of several other research reports. Goldman Sachs Group set a GBX 400 ($5.23) price target on Glencore and gave the company a “buy” rating in a report on Friday, October 5th. Credit Suisse Group set a GBX 480 ($6.27) price target on Glencore and gave the company a “buy” rating in a report on Wednesday, September 19th. Liberum Capital raised Glencore to a “hold” rating in a report on Tuesday, September 18th. JPMorgan Chase & Co. raised Glencore to an “overweight” rating and dropped their target price for the stock from GBX 520 ($6.79) to GBX 370 ($4.83) in a report on Monday, September 10th. Finally, Barclays dropped their target price on Glencore from GBX 450 ($5.88) to GBX 400 ($5.23) and set an “overweight” rating for the company in a report on Wednesday, July 18th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of GBX 391.43 ($5.11).
Glencore stock opened at GBX 313.30 ($4.09) on Friday. Glencore has a 12 month low of GBX 270 ($3.53) and a 12 month high of GBX 416.91 ($5.45).
Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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