Glencore (GLEN) Sets New 52-Week Low at $268.35

Glencore PLC (LON:GLEN) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as GBX 268.35 ($3.51) and last traded at GBX 269.20 ($3.52), with a volume of 46475181 shares. The stock had previously closed at GBX 285.50 ($3.73).

GLEN has been the subject of several recent analyst reports. Liberum Capital reiterated a “sell” rating and set a GBX 300 ($3.92) price objective on shares of Glencore in a research note on Wednesday, August 8th. Goldman Sachs Group set a GBX 500 ($6.53) price objective on Glencore and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and set a GBX 400 ($5.23) price objective on shares of Glencore in a research note on Wednesday, August 8th. JPMorgan Chase & Co. set a GBX 550 ($7.19) price objective on Glencore and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Finally, UBS Group reiterated a “neutral” rating and set a GBX 380 ($4.97) price objective on shares of Glencore in a research note on Wednesday, August 8th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of GBX 388.57 ($5.08).

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About Glencore (LON:GLEN)

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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