Royal Bank Of Canada Reiterates Outperform Rating For Glencore
Royal Bank of Canada restated their outperform rating on shares of Glencore (LON:GLEN – Get Rating) in a research report released on Thursday, Marketbeat.com reports. The brokerage currently has a GBX 550 ($6.65) price objective on the natural resources company’s stock.
GLEN has been the topic of a number of other research reports. Barclays reissued an overweight rating and set a GBX 700 ($8.46) price objective on shares of Glencore in a report on Monday, August 8th. Berenberg Bank decreased their target price on Glencore from GBX 580 ($7.01) to GBX 560 ($6.77) and set a buy rating on the stock in a research note on Tuesday, June 28th. Jefferies Financial Group set a GBX 625 ($7.55) target price on Glencore in a research note on Thursday, August 4th. The Goldman Sachs Group set a GBX 600 ($7.25) target price on Glencore in a research note on Monday, August 8th. Finally, UBS Group set a GBX 540 ($6.52) target price on Glencore in a research note on Monday, August 8th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Glencore has an average rating of Buy and a consensus target price of GBX 576.15 ($6.96).
Shares of GLEN opened at GBX 472.40 ($5.71) on Thursday. The stock’s 50-day simple moving average is GBX 454.53 and its 200 day simple moving average is GBX 468.18. The stock has a market capitalization of £61.87 billion and a price-to-earnings ratio of 487.01. The company has a debt-to-equity ratio of 70.19, a quick ratio of 0.32 and a current ratio of 1.24. Glencore has a 52-week low of GBX 302.55 ($3.66) and a 52-week high of GBX 548.30 ($6.63).
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
