JPMorgan Chase & Co. Issues Pessimistic Forecast for Glencore (LON:GLEN) Stock Price

Glencore (LON:GLEN) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from GBX 560 to GBX 520 in a research note issued on Friday,London Stock Exchange reports. The brokerage presently has a “neutral” rating on the natural resources company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 1.65% from the company’s previous close.

GLEN has been the subject of a number of other research reports. Citigroup boosted their target price on shares of Glencore from GBX 6,700 to GBX 7,700 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Berenberg Bank reaffirmed a “buy” rating and set a GBX 780 price target on shares of Glencore in a report on Wednesday, July 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 700 price objective on shares of Glencore in a research report on Monday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 600 price objective on shares of Glencore in a report on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,780.

Glencore Trading Up 0.0%

Shares of LON:GLEN opened at GBX 511.55 on Friday. Glencore has a 52 week low of GBX 275.20 and a 52 week high of GBX 707.20. The company’s 50 day moving average is GBX 561.04 and its two-hundred day moving average is GBX 524.36. The company has a market cap of £59.94 billion, a PE ratio of 170.52, a P/E/G ratio of 0.43 and a beta of 0.51. The company has a current ratio of 1.06, a quick ratio of 0.32 and a debt-to-equity ratio of 106.72.

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.