Royal Bank Of Canada Reiterates “GBX 550” Price Target For Glencore

Royal Bank of Canada set a GBX 550 ($6.65) target price on Glencore (LON:GLEN – Get Rating) in a report released on Wednesday morning, Borsen Zeitung reports.

Several other analysts also recently weighed in on GLEN. set a GBX 560 ($6.77) target price on shares of Glencore in a research report on Monday, August 1st. Jefferies Financial Group set a GBX 625 ($7.55) target price on shares of Glencore in a research report on Thursday, August 4th. Barclays reissued an overweight rating and set a GBX 700 ($8.46) target price on shares of Glencore in a research report on Thursday, August 18th. The Goldman Sachs Group set a GBX 600 ($7.25) target price on shares of Glencore in a research report on Monday, August 8th. Finally, Morgan Stanley set a GBX 740 ($8.94) target price on shares of Glencore in a research report on Thursday, June 23rd. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of GBX 576.15 ($6.96).

Shares of Glencore stock opened at GBX 449.55 ($5.43) on Wednesday. The firm’s 50 day moving average price is GBX 453.14 and its 200-day moving average price is GBX 475.47. The company has a quick ratio of 0.32, a current ratio of 1.24 and a debt-to-equity ratio of 70.19. Glencore has a 52-week low of GBX 305.07 ($3.69) and a 52-week high of GBX 548.30 ($6.63). The company has a market cap of £58.88 billion and a P/E ratio of 468.61.

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.

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