Glencore (GLEN) Price Target Cut to GBX 370

Glencore (LON:GLEN) had its price objective decreased by research analysts at Barclays from GBX 400 ($5.23) to GBX 370 ($4.83) in a research report issued to clients and investors on Tuesday. The brokerage presently has an “overweight” rating on the natural resources company’s stock. Barclays’ target price suggests a potential upside of 35.93% from the company’s previous close.

GLEN has been the topic of a number of other research reports. Goldman Sachs Group set a GBX 400 ($5.23) price target on shares of Glencore and gave the stock a “buy” rating in a research note on Friday, October 5th. UBS Group reaffirmed a “neutral” rating and set a GBX 360 ($4.70) price target on shares of Glencore in a research note on Monday, October 29th. Credit Suisse Group set a GBX 480 ($6.27) price target on shares of Glencore and gave the stock a “buy” rating in a research note on Wednesday, September 19th. Liberum Capital raised shares of Glencore to a “hold” rating in a research note on Tuesday, September 18th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a GBX 450 ($5.88) price target on shares of Glencore in a research note on Tuesday, November 20th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of GBX 388.57 ($5.08).

Shares of LON GLEN opened at GBX 272.20 ($3.56) on Tuesday. Glencore has a 1 year low of GBX 270 ($3.53) and a 1 year high of GBX 416.91 ($5.45).

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.

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