Glencore’s (GLEN) “Equal Weight” Rating Reaffirmed at Barclays

Barclays reissued their equal weight rating on shares of Glencore (LON:GLEN) in a research report released on Wednesday, Marketbeat Ratings reports. Barclays currently has a GBX 515 ($6.47) price target on the natural resources company’s stock.

Glencore Price Performance

LON GLEN opened at GBX 455 ($5.72) on Wednesday. The company has a quick ratio of 0.32, a current ratio of 1.29 and a debt-to-equity ratio of 85.91. Glencore has a 12-month low of GBX 365.31 ($4.59) and a 12-month high of GBX 491.65 ($6.18). The company has a market capitalization of £55.28 billion, a PE ratio of 1,685.19, a price-to-earnings-growth ratio of 0.43 and a beta of 1.32. The firm’s 50 day moving average is GBX 436.35 and its 200-day moving average is GBX 436.38.

Glencore Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, September 20th. Investors of record on Thursday, August 29th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, August 29th. This represents a yield of 1.32%. Glencore’s payout ratio is 3,703.70%.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.