Glencore (LON:GLEN) Stock Rating Reaffirmed By Barclays

Glencore (LON:GLEN – Get Rating)‘s stock had its “overweight” rating reissued by analysts at Barclays in a research report issued on Friday, Marketbeat reports. They currently have a GBX 700 ($8.46) price objective on the natural resources company’s stock. Barclays‘s price objective points to a potential upside of 39.41% from the company’s previous close.
Other analysts also recently issued research reports about the stock. Berenberg Bank cut their price objective on shares of Glencore from GBX 580 ($7.01) to GBX 560 ($6.77) and set a “buy” rating for the company in a report on Tuesday, June 28th. Jefferies Financial Group set a GBX 625 ($7.55) price target on Glencore in a research note on Thursday, August 4th. UBS Group set a GBX 540 ($6.52) price objective on Glencore in a research report on Monday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on Glencore from GBX 560 ($6.77) to GBX 500 ($6.04) and set a “buy” rating for the company in a research note on Wednesday, October 5th. Finally, Morgan Stanley set a GBX 740 ($8.94) target price on shares of Glencore in a report on Thursday, June 23rd. Eight investment analysts have rated the stock with a buy rating, According to, the company currently has an average rating of “Buy” and an average price target of GBX 599.23 ($7.24).
Glencore Price Performance
LON:GLEN opened at GBX 502.10 ($6.07) on Friday. Glencore has a one year low of GBX 346.40 ($4.19) and a one year high of GBX 548.30 ($6.63). The company has a debt-to-equity ratio of 70.19, a quick ratio of 0.32 and a current ratio of 1.24. The firm has a market cap of £65.13 billion and a price-to-earnings ratio of 473.68. The firm’s fifty day moving average is GBX 485.15 and its two-hundred day moving average is GBX 479.19.
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.