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

Glencore plc (LON:GLEN) hit a new 52-week high on Tuesday . The stock traded as high as GBX 623.80 and last traded at GBX 622.50, with a volume of 66625250 shares. The stock had previously closed at GBX 603.80.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GLEN shares. Berenberg Bank reduced their price target on Glencore from GBX 750 to GBX 740 and set a “buy” rating on the stock in a research report on Friday, August 7th. Jefferies Financial Group reissued a “buy” rating and set a GBX 700 price objective on shares of Glencore in a research report on Monday, July 6th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 600 target price on shares of Glencore in a research note on Monday, July 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 630 target price on shares of Glencore in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Glencore from GBX 520 to GBX 510 and set a “neutral” rating for the company in a report on Thursday, July 30th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Glencore presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 660.

Glencore Price Performance

The company has a debt-to-equity ratio of 108.47, a current ratio of 1.06 and a quick ratio of 0.32. The firm has a market cap of £73.06 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.43 and a beta of 0.51. The stock has a 50-day moving average price of GBX 550.78 and a 200 day moving average price of GBX 552.15.

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.