Glencore (LON:GLEN) Sets New 1-Year High – Here’s What Happened

Glencore plc (LON:GLEN) shares hit a new 52-week high on Monday . The company traded as high as GBX 421.05 and last traded at GBX 419.35, with a volume of 498489969 shares traded. The stock had previously closed at GBX 408.80.

Analysts Set New Price Targets

A number of research analysts have recently commented on GLEN shares. JPMorgan Chase & Co. lifted their price objective on shares of Glencore from GBX 400 to GBX 450 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Berenberg Bank reiterated a “hold” rating and issued a GBX 350 target price on shares of Glencore in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 320 price target on shares of Glencore in a report on Wednesday, December 3rd. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of GBX 391.67.

Glencore Price Performance

The company’s 50-day moving average price is GBX 375.34 and its two-hundred day moving average price is GBX 334.68. 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 company has a market capitalization of £49.82 billion, a P/E ratio of -26.53, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21.

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.