Glencore (LON:GLEN) had its price objective decreased by research analysts at Deutsche Bank from GBX 370 ($4.83) to GBX 300 ($3.92) in a note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the natural resources company’s stock. Deutsche Bank’s target price points to a potential upside of 12.65% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. UBS Group set a $13.00 price objective on shares of Freeport-McMoRan and gave the company a “hold” rating in a report on Wednesday, June 26th. Goldman Sachs Group set a €14.15 ($16.45) price objective on shares of Assicurazioni Generali and gave the company a “sell” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on shares of from GBX 2,300 ($30.05) to GBX 2,900 ($37.89) and gave the stock a “neutral” rating in a report on Friday, July 5th. HSBC assumed coverage on shares of Tullow Oil in a report on Tuesday, May 28th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada reiterated an “average” rating and issued a $48.00 price target on shares of in a report on Thursday, June 27th. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of GBX 340.88 ($4.45).
Shares of GLEN traded up GBX 1.30 ($0.02) during mid-day trading on Wednesday, hitting GBX 266.30 ($3.48). 28,764,744 shares of the company traded hands, compared to its average volume of 46,120,000. Glencore has a 1-year low of GBX 249.75 ($3.26) and a 1-year high of GBX 343.60 ($4.49). The company has a debt-to-equity ratio of 77.26, a current ratio of 1.10 and a quick ratio of 0.38. The company has a market capitalization of $36.39 billion and a P/E ratio of 11.10. The firm’s 50 day simple moving average is GBX 268.41.
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. 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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