Glencore (LON:GLEN) Sets New 1-Year Low – Should You Sell?

Shares of Glencore plc (LON:GLEN) reached a new 52-week low on Wednesday . The company traded as low as GBX 337.70 ($4.28) and last traded at GBX 341.70 ($4.33), with a volume of 212271859 shares. The stock had previously closed at GBX 353.55 ($4.48).

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GLEN. Royal Bank of Canada dropped their price objective on shares of Glencore from GBX 480 ($6.08) to GBX 440 ($5.58) and set an “outperform” rating on the stock in a report on Thursday. Citigroup reaffirmed a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 480 ($6.08) target price on shares of Glencore in a research note on Thursday. Finally, Morgan Stanley raised shares of Glencore to an “overweight” rating and set a GBX 470 ($5.96) target price on the stock in a research note on Tuesday. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 492.50 ($6.24).

Glencore Stock Performance

The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30. The company’s 50 day simple moving average is GBX 358.17 and its 200 day simple moving average is GBX 386.13. The stock has a market cap of £49.29 billion, a price-to-earnings ratio of -90.50, a PEG ratio of 0.43 and a beta of 1.21.

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.