Glencore (LON:GLEN) Sets New 12-Month High – Time to Buy?

Glencore plc (LON:GLEN) reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 540 and last traded at GBX 538.40, with a volume of 245264078 shares traded. The stock had previously closed at GBX 527.90.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GLEN. Berenberg Bank decreased their price objective on Glencore from GBX 610 to GBX 600 and set a “buy” rating for the company in a research report on Thursday, March 5th. Royal Bank Of Canada raised their target price on shares of Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Glencore from GBX 400 to GBX 450 and gave the company a “neutral” rating in a research note on Wednesday, December 3rd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 470.

Glencore Price Performance

The stock has a market cap of £62.97 billion, a price-to-earnings ratio of 179.47, a P/E/G ratio of 0.43 and a beta of 0.67. The company has a 50 day simple moving average of GBX 509 and a 200-day simple moving average of GBX 413.91. The company has a current ratio of 1.06, a quick ratio of 0.32 and a debt-to-equity ratio of 109.99.

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.