Glencore (LON:GLEN) Receives Overweight Rating from Barclays

Barclays reiterated their overweight rating on shares of Glencore (LON:GLEN) in a research note issued to investors on Tuesday, Digital Look reports. They currently have a GBX 220 ($2.87) target price on the natural resources company’s stock.

GLEN has been the topic of several other research reports. JPMorgan Chase & Co. reissued an underweight rating on shares of Glencore in a research note on Tuesday, September 1st. Credit Suisse Group increased their price target on Glencore from GBX 170 ($2.22) to GBX 180 ($2.35) and gave the stock a neutral rating in a research note on Monday, July 6th. Deutsche Bank reaffirmed a buy rating and issued a GBX 240 ($3.14) price objective on shares of Glencore in a research report on Monday, August 3rd. Morgan Stanley reduced their target price on Glencore from GBX 230 ($3.01) to GBX 220 ($2.87) and set an overweight rating on the stock in a research report on Tuesday, June 23rd. Finally, Liberum Capital reissued a buy rating on shares of Glencore in a research note on Monday, June 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. Glencore has a consensus rating of Buy and a consensus target price of GBX 228.75 ($2.99).

Shares of Glencore stock traded up GBX 4.40 ($0.06) during mid-day trading on Tuesday, hitting GBX 186.04 ($2.43). 37,261,384 shares of the stock were exchanged, compared to its average volume of 35,884,371. The stock has a market capitalization of $24.79 billion and a price-to-earnings ratio of -7.47. Glencore has a twelve month low of GBX 109.76 ($1.43) and a twelve month high of GBX 264.12 ($3.45). The company has a current ratio of 0.99, a quick ratio of 0.31 and a debt-to-equity ratio of 118.32. The company has a 50-day simple moving average of GBX 174.74 and a 200 day simple moving average of GBX 160.87.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. 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.

Further Reading: Understanding debt-to-equity ratio in fundamental analysis

Analyst Recommendations for Glencore (LON:GLEN)

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