Glencore (LON:GLEN)‘s stock had its “outperform” rating reiterated by investment analysts at Credit Suisse Group in a research note issued to investors on Monday. They currently have a GBX 480 ($6.27) price objective on the natural resources company’s stock. Credit Suisse Group’s price target indicates a potential upside of 57.66% from the stock’s current price.
A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. upgraded Glencore to an “overweight” rating and lowered their price target for the stock from GBX 520 ($6.79) to GBX 370 ($4.83) in a report on Monday, September 10th. Liberum Capital upgraded Glencore to a “hold” rating and set a GBX 300 ($3.92) price target for the company in a report on Friday, August 17th. Goldman Sachs Group set a GBX 500 ($6.53) price target on Glencore and gave the stock a “buy” rating in a report on Thursday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating on shares of Glencore in a report on Tuesday, July 31st. Finally, Deutsche Bank reiterated a “buy” rating and set a GBX 450 ($5.88) price target on shares of Glencore in a report on Thursday, August 9th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of GBX 391.43 ($5.11).
LON GLEN opened at GBX 304.45 ($3.98) on Monday. Glencore has a twelve month low of GBX 270 ($3.53) and a twelve 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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