Glencore (LON:GLEN)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank of Canada in a report released on Wednesday.
Several other research analysts have also issued reports on the company. JPMorgan Chase & Co. upgraded Glencore to an “overweight” rating and dropped their price objective for the stock from GBX 520 ($6.79) to GBX 370 ($4.83) in a research note on Monday, September 10th. Liberum Capital upgraded Glencore to a “hold” rating and set a GBX 300 ($3.92) price objective for the company in a research note on Friday, August 17th. Credit Suisse Group reiterated an “outperform” rating and set a GBX 480 ($6.27) price objective on shares of Glencore in a research note on Thursday, August 16th. Goldman Sachs Group set a GBX 500 ($6.53) price objective on Glencore and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Finally, Deutsche Bank reiterated a “buy” rating and set a GBX 450 ($5.88) price objective on shares of Glencore in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Glencore presently has a consensus rating of “Buy” and an average price target of GBX 391.43 ($5.11).
Glencore stock opened at GBX 313.30 ($4.09) on Wednesday. Glencore has a 52-week low of GBX 270 ($3.53) and a 52-week high of GBX 416.91 ($5.45).
Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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