Glencore (LON:GLEN) Given Buy Rating at Bank of America

Bank of America reiterated their buy rating on shares of Glencore (LON:GLEN) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. They currently have a GBX 500 ($6.34) target price on the natural resources company’s stock.

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group restated a buy rating and set a GBX 550 ($6.98) price objective on shares of Glencore in a research report on Wednesday, May 1st. Barclays restated an equal weight rating and set a GBX 515 ($6.53) price objective on shares of Glencore in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of GBX 531.25 ($6.74).

Glencore Stock Performance

GLEN opened at GBX 451.10 ($5.72) on Wednesday. The company has a debt-to-equity ratio of 85.91, a current ratio of 1.29 and a quick ratio of 0.32. The firm has a fifty day moving average price of GBX 471.01 and a 200 day moving average price of GBX 444. Glencore has a 1 year low of GBX 365.31 ($4.63) and a 1 year high of GBX 506.72 ($6.43). The stock has a market cap of £54.81 billion, a P/E ratio of 1,670.74, a P/E/G ratio of 0.43 and a beta of 1.29.

Insider Transactions at Glencore

In other Glencore news, insider Martin J. Gilbert bought 10,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was acquired at an average price of GBX 486 ($6.17) per share, with a total value of £48,600 ($61,651.66). Insiders own 10.35% of the company’s stock.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.