Glencore plc (LON:GLEN) Given Consensus Rating of "Moderate Buy" by Analysts

Aug 06, 2023

Glencore plc (LON:GLEN - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is GBX 589.50 ($7.57).

A number of research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of Glencore from GBX 590 ($7.57) to GBX 560 ($7.19) and set an "equal weight" rating on the stock in a research report on Wednesday, June 21st. Jefferies Financial Group reissued a "buy" rating and set a GBX 550 ($7.06) target price on shares of Glencore in a research report on Thursday, June 22nd. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 560 ($7.19) price target on shares of Glencore in a research note on Thursday, July 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Glencore from GBX 620 ($7.96) to GBX 610 ($7.83) and set an "overweight" rating for the company in a research note on Monday, April 24th.

Read Our Latest Stock Report on Glencore

LON GLEN opened at GBX 453.30 ($5.82) on Thursday. The company's fifty day simple moving average is GBX 448.88 and its 200-day simple moving average is GBX 473.27. Glencore has a 52 week low of GBX 410.95 ($5.28) and a 52 week high of GBX 584.50 ($7.50). The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 64.96. The stock has a market cap of £56.16 billion, a P/E ratio of 448.47, a PEG ratio of 0.43 and a beta of 1.32.

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, nickel, zinc, lead, 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.

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