Barclays Trims Glencore (LON:GLEN) Target Price To GBX 680
Glencore (LON:GLEN – Get Rating) had its price target reduced by analysts at Barclays from GBX 700 ($8.46) to GBX 680 ($8.22) in a report released on Monday, Marketbeat.com reports. The firm presently has an “overweight” rating on the natural resources company’s stock. Barclays‘s target price would suggest a potential upside of 29.89% from the company’s current price.
A number of other brokerages have also recently issued reports on GLEN. Jefferies Financial Group set a GBX 625 ($7.55) target price on shares of Glencore in a report on Friday. set a GBX 560 ($6.77) target price on shares of Glencore in a report on Monday, August 1st. The Goldman Sachs Group set a GBX 700 ($8.46) target price on shares of Glencore in a report on Thursday, October 13th. JPMorgan Chase & Co. set a GBX 660 ($7.97) target price on shares of Glencore in a report on Friday. Finally, UBS Group set a GBX 540 ($6.52) target price on shares of Glencore in a report on Monday, August 8th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Glencore has a consensus rating of “Buy” and an average target price of GBX 597.69 ($7.22).
Shares of Glencore stock opened at GBX 523.50 ($6.33) on Monday. Glencore has a 12-month low of GBX 346.40 ($4.19) and a 12-month high of GBX 548.30 ($6.63). The company has a current ratio of 1.24, a quick ratio of 0.32 and a debt-to-equity ratio of 70.19. The stock has a market cap of £67.91 billion and a PE ratio of 509.02. The company has a 50-day moving average of GBX 487.27 and a two-hundred day moving average of GBX 478.02.
About Glencore
Glencore plc produces, refines, processes, stores, transports, and markets 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 produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.
www.ferroalloynet.com
