Glencore (LON:GLEN) Sets New 52-Week High – Should You Buy?

Glencore plc (LON:GLEN) hit a new 52-week high on Wednesday . The stock traded as high as GBX 501.83 and last traded at GBX 498.77, with a volume of 444062344 shares changing hands. The stock had previously closed at GBX 482.

Wall Street Analyst Weigh In

Several brokerages recently commented on GLEN. JPMorgan Chase & Co. increased their price target on Glencore from GBX 400 to GBX 450 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Berenberg Bank reissued a “hold” rating and issued a GBX 350 price objective on shares of Glencore in a report on Thursday, October 30th. Finally, Royal Bank Of Canada raised their target price on shares of Glencore from GBX 300 to GBX 330 and gave the company an “outperform” rating in a research note on Monday. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 393.33.

Glencore Stock Up 1.4%

The stock has a fifty day moving average price of GBX 400.93 and a two-hundred day moving average price of GBX 349.04. The company has a market cap of £58.20 billion, a price-to-earnings ratio of -31.05, a P/E/G ratio of 0.43 and a beta of 1.21. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14.

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.