Royal Bank of Canada Raises Glencore (GLEN) Price Target to GBX 470

Glencore (LON:GLEN) had its target price upped by Royal Bank of Canada from GBX 410 ($5.48) to GBX 470 ($6.28) in a report published on Monday, December 4th. They currently have an outperform rating on the natural resources company’s stock.

Several other analysts also recently weighed in on the stock. Macquarie reaffirmed an outperform rating on shares of Glencore in a report on Wednesday, October 18th. Societe Generale increased their price target on shares of Glencore from GBX 400 ($5.35) to GBX 470 ($6.28) and gave the stock a buy rating in a report on Thursday, November 9th. Citigroup reissued a buy rating and set a GBX 400 ($5.35) price target on shares of Glencore in a report on Monday, October 9th. Liberum Capital cut shares of Glencore to a sell rating and upped their price objective for the stock from GBX 285 ($3.81) to GBX 300 ($4.01) in a research report on Thursday, October 26th. Finally, Goldman Sachs Group restated a conviction-buy rating and set a GBX 400 ($5.35) price objective on shares of Glencore in a research report on Friday, November 24th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Glencore currently has an average rating of Buy and a consensus target price of GBX 396.43 ($5.30).

Glencore (LON GLEN) traded up GBX 4.55 ($0.06) during trading hours on Monday, hitting GBX 390 ($5.21). 22,075,487 shares of the stock traded hands, compared to its average volume of 36,760,000. The company has a market cap of $55,550.00 and a price-to-earnings ratio of 3,545.45. Glencore has a twelve month low of GBX 270 ($3.61) and a twelve month high of GBX 388.25 ($5.19).

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About Glencore

Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.

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