Royal Bank Of Canada Issues Positive Forecast for Glencore (LON:GLEN) Stock Price

Glencore (LON:GLEN) had its price target raised by analysts at Royal Bank Of Canada from GBX 300 to GBX 330 in a note issued to investors on Monday,Digital Look reports. The firm presently has an “outperform” rating on the natural resources company’s stock. Royal Bank Of Canada’s price target points to a potential downside of 31.52% from the company’s previous close.

A number of other equities analysts have also recently weighed in on GLEN. Berenberg Bank reissued a “hold” rating and set a GBX 350 price objective on shares of Glencore in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Glencore from GBX 400 to GBX 450 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Glencore has a consensus rating of “Moderate Buy” and an average target price of GBX 393.33.

Glencore Stock Performance

Shares of Glencore stock traded down GBX 1.17 during trading hours on Monday, reaching GBX 481.86. The company had a trading volume of 19,247,686 shares, compared to its average volume of 45,787,668. The firm has a market cap of £56.45 billion, a PE ratio of -30.12, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. Glencore has a one year low of GBX 205 and a one year high of GBX 501.44. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The business has a fifty day simple moving average of GBX 391.34 and a 200 day simple moving average of GBX 344.48.

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.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.