Glencore (LON:GLEN) Coverage Initiated at Berenberg Bank

Berenberg Bank began coverage on shares of Glencore (LON:GLEN) in a report published on Monday morning, Marketbeat.com reports. The brokerage issued a buy rating and a GBX 380 ($4.93) target price 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 Thursday, December 12th. Royal Bank of Canada decreased their price objective on Glencore from GBX 480 ($6.22) to GBX 440 ($5.71) and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 480 ($6.22) price objective on shares of Glencore in a research report on Thursday, February 20th. Finally, Morgan Stanley upgraded Glencore to an “overweight” rating and set a GBX 470 ($6.10) price objective on the stock in a research report on Tuesday, February 18th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Glencore currently has a consensus rating of “Buy” and a consensus target price of GBX 476.43 ($6.18).

Glencore Trading Up 0.2 %

GLEN stock opened at GBX 314.38 ($4.08) on Monday. Glencore has a 1-year low of GBX 309.15 ($4.01) and a 1-year high of GBX 506.72 ($6.57). The firm has a market cap of £47.96 billion, a P/E ratio of -88.05, a P/E/G ratio of 0.43 and a beta of 1.21. The business’s 50 day moving average is GBX 347.33 and its 200-day moving average is GBX 376.31. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14.

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.