Glencore plc (LON:GLEN) Receives GBX 476.43 Average Target Price from Brokerages

Glencore plc (LON:GLEN) has been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. 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 company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is GBX 476.43 ($6.19).

GLEN has been the subject of a number of recent research reports. Morgan Stanley upgraded Glencore to an “overweight” rating and set a GBX 470 ($6.11) target price for the company in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 480 ($6.24) price objective on shares of Glencore in a research report on Thursday, February 20th. Berenberg Bank assumed coverage on shares of Glencore in a report on Monday, March 10th. They issued a “buy” rating and a GBX 380 ($4.94) target price for the company. Royal Bank of Canada cut their price target on shares of Glencore from GBX 480 ($6.24) to GBX 440 ($5.72) and set an “outperform” rating on the stock in a report on Thursday, February 20th. Finally, Citigroup reissued a “top pick” rating on shares of Glencore in a research report on Thursday, December 12th.

Glencore Trading Up 0.4 %

GLEN opened at GBX 320.10 ($4.16) on Friday. The stock has a 50-day moving average of GBX 343.73 and a 200 day moving average of GBX 373.85. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14. Glencore has a 12 month low of GBX 309.15 ($4.02) and a 12 month high of GBX 506.72 ($6.59). The firm has a market cap of £48.83 billion, a P/E ratio of -89.65, a P/E/G ratio of 0.43 and a beta of 1.21.

Glencore Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, September 19th. Investors of record on Thursday, August 28th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, August 28th. This represents a yield of 1.21%. Glencore’s payout ratio is -280.06%.

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.