Glencore (LON:GLEN) Price Target Increased To GBX 540 By Analysts At Royal Bank Of Canada
Glencore (LON:GLEN – Get Rating) had its price objective lifted by Royal Bank of Canada from GBX 520 ($6.25) to GBX 540 ($6.49) in a research report report published on Wednesday, MarketBeat reports. Royal Bank of Canada currently has an outperform rating on the natural resources company’s stock.
A number of other research firms have also commented on GLEN. Citigroup restated a top pick rating on shares of Glencore in a research report on Monday, January 16th. Credit Suisse Group restated an outperform rating and issued a GBX 675 ($8.11) target price on shares of Glencore in a research note on Thursday, February 2nd. JPMorgan Chase & Co. set a GBX 650 ($7.81) price target on shares of Glencore in a research report on Wednesday, February 1st. The Goldman Sachs Group set a GBX 640 ($7.69) price objective on shares of Glencore in a research report on Wednesday, December 7th. Finally, Jefferies Financial Group set a GBX 700 ($8.41) price objective on Glencore in a research report on Friday, January 6th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Buy and an average price target of GBX 618.18 ($7.43).
Shares of Glencore stock opened at GBX 542.70 ($6.52) on Wednesday. The stock has a market capitalization of £69.55 billion and a price-to-earnings ratio of 563.81. The firm’s 50-day moving average price is GBX 549.09 and its two-hundred day moving average price is GBX 511.04. The company has a current ratio of 1.24, a quick ratio of 0.32 and a debt-to-equity ratio of 70.19. Glencore has a 1-year low of GBX 395.40 ($4.75) and a 1-year high of GBX 584.50 ($7.03).
Glencore Company Profile
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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