Glencore (LON:GLEN) had its target price cut by Macquarie from GBX 290 ($3.79) to GBX 260 ($3.40) in a report released on Monday morning, ThisIsMoney.Co.Uk reports. They currently have a neutral rating on the natural resources company’s stock.
A number of other analysts have also commented on GLEN. HSBC set a GBX 360 ($4.70) price objective on Glencore and gave the stock a buy rating in a report on Monday, July 15th. Morgan Stanley set a GBX 320 ($4.18) price objective on Glencore and gave the stock a buy rating in a report on Tuesday, August 6th. UBS Group reissued a neutral rating and set a GBX 280 ($3.66) price objective on shares of Glencore in a report on Thursday, August 8th. Credit Suisse Group set a GBX 390 ($5.10) price objective on Glencore and gave the stock a buy rating in a report on Monday, August 5th. Finally, Jefferies Financial Group set a GBX 275 ($3.59) price objective on Glencore and gave the stock a buy rating in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of GBX 308.06 ($4.03).
Shares of GLEN opened at GBX 222.15 ($2.90) on Monday. The company has a debt-to-equity ratio of 86.25, a quick ratio of 0.53 and a current ratio of 1.05. The stock has a 50 day moving average price of GBX 260.60 and a two-hundred day moving average price of GBX 288.24. The firm has a market capitalization of $30.23 billion and a P/E ratio of 32.20. Glencore has a 52 week low of GBX 220.36 ($2.88) and a 52 week high of GBX 343.60 ($4.49).
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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