Glencore plc (LON:GLEN – Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as GBX 316.40 ($3.99) and last traded at GBX 317.95 ($4.01), with a volume of 40902996 shares trading hands. The stock had previously closed at GBX 323.85 ($4.08).
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on GLEN. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 480 ($6.05) price objective on shares of Glencore in a research note on Thursday, February 20th. Citigroup restated a “top pick” rating on shares of Glencore in a research report on Thursday, December 12th. Royal Bank of Canada dropped their target price on Glencore from GBX 480 ($6.05) to GBX 440 ($5.55) and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Morgan Stanley upgraded Glencore to an “overweight” rating and set a GBX 470 ($5.92) price objective on the stock in a report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of GBX 492.50 ($6.21).
Glencore Trading Down 1.6 %
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.
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