Berenberg Bank Cuts Glencore (LON:GLEN) Price Target to GBX 750

Glencore (LON:GLEN) had its price target trimmed by Berenberg Bank from GBX 780 to GBX 750 in a research note published on Thursday morning,Digital Look reports. The brokerage currently has a buy rating on the natural resources company’s stock.

Several other research firms have also recently weighed in on GLEN. JPMorgan Chase & Co. decreased their price objective on shares of Glencore from GBX 560 to GBX 520 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 600 target price on shares of Glencore in a research report on Monday, July 27th. Citigroup boosted their price target on shares of Glencore from GBX 6,700 to GBX 7,700 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a GBX 700 price target on shares of Glencore in a report on Monday, July 6th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,773.33.

Glencore Trading Up 1.2%

GLEN opened at GBX 545.45 on Thursday. The stock has a market cap of £63.92 billion, a PE ratio of 181.82, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 106.72. The company has a fifty day moving average of GBX 546.05 and a 200-day moving average of GBX 536.54. Glencore has a twelve month low of GBX 275.20 and a twelve month high of GBX 621.40.

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.