Berenberg Bank Initiates Coverage on Glencore (LON:GLEN)

Equities research analysts at Berenberg Bank initiated coverage on shares of Glencore (LON:GLEN) in a note issued to investors on Monday,Digital Look reports. The brokerage set a “buy” rating and a GBX 380 ($4.92) price target on the natural resources company’s stock. Berenberg Bank’s price target would suggest a potential upside of 22.32% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Morgan Stanley raised shares of Glencore to an “overweight” rating and set a GBX 470 ($6.08) price target on the stock in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 480 ($6.21) price target on shares of Glencore in a research note on Thursday, February 20th. Royal Bank of Canada dropped their price objective on Glencore from GBX 480 ($6.21) to GBX 440 ($5.70) and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Finally, Citigroup restated a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of GBX 476.43 ($6.17).

Glencore Trading Down 1.0 %

Glencore stock traded down GBX 3 ($0.04) during mid-day trading on Monday, hitting GBX 310.65 ($4.02). The company’s stock had a trading volume of 639,985,063 shares, compared to its average volume of 54,562,355. Glencore has a one year low of GBX 309.15 ($4.00) and a one year high of GBX 506.72 ($6.56). The stock has a market cap of £47.39 billion, a PE ratio of -87.00, a P/E/G ratio of 0.43 and a beta of 1.21. The company has a 50 day moving average of GBX 348.11 and a 200-day moving average of GBX 376.94. The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30.

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.