Glencore (GLEN) Earns “Conviction-Buy” Rating from Goldman Sachs

Goldman Sachs reissued their conviction-buy rating on shares of Glencore (LON:GLEN) in a research note released on Friday. Goldman Sachs currently has a GBX 520 ($7.30) price target on the natural resources company’s stock.

Several other brokerages have also issued reports on GLEN. Cfra set a GBX 410 ($5.76) target price on shares of Glencore and gave the company a neutral rating in a research report on Thursday, February 22nd. Shore Capital reiterated a not rated rating on shares of Glencore in a research report on Wednesday, February 21st. Deutsche Bank lifted 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 report on Monday, January 15th. UBS set a GBX 380 ($5.33) target price on shares of Glencore and gave the company a neutral rating in a research report on Tuesday, December 19th. Finally, Citigroup reiterated a buy rating on shares of Glencore in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Glencore has a consensus rating of Buy and a consensus price target of GBX 421.95 ($5.92).

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Shares of LON GLEN opened at GBX 341.90 ($4.80) on Friday. Glencore has a 52-week low of GBX 270 ($3.79) and a 52-week high of GBX 416.91 ($5.85).

The firm also recently declared a dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 6th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, September 6th. This represents a yield of 1.81%.

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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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