Royal Bank of Canada Issues Pessimistic Forecast for Glencore (LON:GLEN) Stock Price

Glencore (LON:GLEN) had its price target reduced by equities research analysts at Royal Bank of Canada from GBX 480 ($6.04) to GBX 440 ($5.54) in a research note issued on Thursday, Marketbeat reports. The brokerage currently has an “outperform” rating on the natural resources company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 34.95% from the stock’s previous close.

GLEN has been the topic of a number of other research reports. Citigroup restated a “top pick” rating on shares of Glencore in a research note on Thursday, December 12th. Morgan Stanley upgraded Glencore to an “overweight” rating and set a GBX 470 ($5.91) price target for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Glencore currently has an average rating of “Buy” and an average price target of GBX 492.50 ($6.20).

Glencore Trading Down 0.5 %

Shares of GLEN stock traded down GBX 1.76 ($0.02) during mid-day trading on Thursday, reaching GBX 326.04 ($4.10). The company’s stock had a trading volume of 45,832,449 shares, compared to its average volume of 40,698,688. The company’s 50 day simple moving average is GBX 359.31 and its 200-day simple moving average is GBX 386.55. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. Glencore has a 12-month low of GBX 324.10 ($4.08) and a 12-month high of GBX 506.72 ($6.38). The firm has a market capitalization of £49.73 billion, a PE ratio of -91.31, 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.