Glencore (GLEN) Given New GBX 550 Price Target at JPMorgan Chase

Glencore (LON:GLEN) had its price objective trimmed by JPMorgan Chase from GBX 570 ($8.00) to GBX 550 ($7.72) in a research note issued to investors on Tuesday morning. The firm currently has an overweight rating on the natural resources company’s stock.

A number of other brokerages have also issued reports on GLEN. Liberum Capital restated a sell rating and issued a GBX 300 ($4.21) target price on shares of Glencore in a research note on Thursday, January 11th. Deutsche Bank upped their target price on shares of Glencore from GBX 430 ($6.04) to GBX 450 ($6.32) and gave the company a buy rating in a research note on Monday, January 15th. Credit Suisse Group restated an outperform rating and issued a GBX 445 ($6.25) target price on shares of Glencore in a research note on Monday, January 22nd. UBS set a GBX 380 ($5.33) target price on shares of Glencore and gave the company a neutral rating in a research note on Monday, January 22nd. Finally, Royal Bank of Canada set a GBX 450 ($6.32) target price on shares of Glencore and gave the company a buy rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of GBX 421.95 ($5.92).

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Shares of Glencore stock opened at GBX 351.15 ($4.93) on Tuesday. Glencore has a 1 year low of GBX 270 ($3.79) and a 1 year high of GBX 416.91 ($5.85).

The company also recently announced a dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, September 6th will be given a $0.10 dividend. This represents a yield of 1.81%. The ex-dividend date is Thursday, September 6th.

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About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.

Analyst Recommendations for Glencore (LON:GLEN)

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