Glencore (LON:GLEN) Sets New 12-Month High – Should You Buy?

Glencore plc (LON:GLEN)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 577.90 and last traded at GBX 577.60, with a volume of 108291000 shares trading hands. The stock had previously closed at GBX 575.80.

Analyst Ratings Changes

GLEN has been the subject of a number of recent analyst reports. Berenberg Bank reaffirmed a “buy” rating and set a GBX 630 price target on shares of Glencore in a report on Friday, May 1st. Royal Bank Of Canada increased their price objective on Glencore from GBX 530 to GBX 540 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, Citigroup boosted their target price on Glencore from GBX 620 to GBX 670 and gave the stock a “buy” rating in a research note on Monday, April 13th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of GBX 534.

Glencore Price Performance

The stock’s 50-day moving average is GBX 546.85 and its 200 day moving average is GBX 468.25. The company has a debt-to-equity ratio of 109.99, a quick ratio of 0.32 and a current ratio of 1.06. The stock has a market capitalization of £69.78 billion, a PE ratio of 198.53, a P/E/G ratio of 0.43 and a beta of 0.53.

Glencore Company Profile

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.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.