Royal Bank Of Canada Reaffirms Outperform Rating for Glencore (LON:GLEN)

Glencore (LON:GLEN)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research report issued on Monday,London Stock Exchange reports. They presently have a GBX 600 target price on the natural resources company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 14.20% from the company’s current price.

Several other research firms have also recently weighed in on GLEN. Citigroup boosted their price objective on shares of Glencore from GBX 6,700 to GBX 7,700 and gave the company a “buy” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. cut their target price on shares of Glencore from GBX 560 to GBX 520 and set a “neutral” rating for the company in a research report on Friday, July 10th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 700 target price on shares of Glencore in a research report on Monday, July 6th. Finally, Berenberg Bank reiterated a “buy” rating and set a GBX 780 target price on shares of Glencore in a research note on Wednesday, July 1st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,780.

Glencore Price Performance

GLEN opened at GBX 525.40 on Monday. The company’s 50-day simple moving average is GBX 550.39 and its two-hundred day simple moving average is GBX 533.76. The company has a debt-to-equity ratio of 106.72, a quick ratio of 0.32 and a current ratio of 1.06. The stock has a market capitalization of £61.57 billion, a P/E ratio of 175.13, a P/E/G ratio of 0.43 and a beta of 0.51. Glencore has a 52-week low of GBX 275.20 and a 52-week high of GBX 621.40.

Glencore Company Profile

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.