Brokerages Set Glencore plc (LON:GLEN) Price Target at GBX 476.43

Glencore plc (LON:GLEN) has earned an average recommendation of “Buy” from the eight analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is GBX 476.43 ($6.28).

Several equities analysts have weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Glencore from GBX 480 ($6.33) to GBX 440 ($5.80) and set an “outperform” rating on the stock in a report on Thursday, February 20th. Berenberg Bank initiated coverage on shares of Glencore in a research note on Monday, March 10th. They set a “buy” rating and a GBX 380 ($5.01) target price on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 480 ($6.33) target price on shares of Glencore in a report on Thursday, February 20th. Finally, Morgan Stanley raised Glencore to an “overweight” rating and set a GBX 470 ($6.20) price target on the stock in a report on Tuesday, February 18th.

Glencore Stock Up 2.5 %

GLEN stock opened at GBX 260.05 ($3.43) on Thursday. The business’s 50-day moving average price is GBX 305.42 and its 200-day moving average price is GBX 356.15. The stock has a market cap of £39.67 billion, a P/E ratio of -72.83, a PEG ratio of 0.43 and a beta of 1.21. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. Glencore has a twelve month low of GBX 205 ($2.70) and a twelve month high of GBX 506.72 ($6.68).

Glencore Cuts Dividend

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

Insider Transactions at Glencore

In other Glencore news, insider Liz Hewitt bought 50,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was acquired at an average price of GBX 302 ($3.98) per share, for a total transaction of £151,000 ($199,103.38). Also, insider Martin J. Gilbert bought 5,000 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of GBX 233 ($3.07) per share, for a total transaction of £11,650 ($15,361.29). Insiders have bought 70,000 shares of company stock valued at $20,540,000 in the last ninety days. Corporate insiders own 10.35% of the company’s stock.

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.