Glencore (LON:GLEN) Hits New 52-Week Low – Time to Sell?

Glencore plc (LON:GLEN) shares reached a new 52-week low during trading on Thursday . The stock traded as low as GBX 297 ($3.84) and last traded at GBX 298.40 ($3.86), with a volume of 580449063 shares changing hands. The stock had previously closed at GBX 304 ($3.93).

Wall Street Analysts Forecast Growth

GLEN has been the subject of a number of recent research reports. Morgan Stanley raised Glencore to an “overweight” rating and set a GBX 470 ($6.08) price objective for the company in a research report on Tuesday, February 18th. Citigroup reiterated a “top pick” rating on shares of Glencore in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 480 ($6.21) price objective on shares of Glencore in a research report on Thursday, February 20th. Berenberg Bank began coverage on shares of Glencore in a report on Monday, March 10th. They issued a “buy” rating and a GBX 380 ($4.92) target price on the stock. Finally, Royal Bank of Canada cut their price target on shares of Glencore from GBX 480 ($6.21) to GBX 440 ($5.70) and set an “outperform” rating for the company in a report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Glencore has an average rating of “Buy” and a consensus target price of GBX 476.43 ($6.17).

Glencore Trading Down 1.2 %

The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. The stock has a market cap of £44.86 billion, a PE ratio of -82.35, a P/E/G ratio of 0.43 and a beta of 1.21. The business’s fifty day moving average is GBX 333.50 and its 200 day moving average is GBX 367.99.

Glencore Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, September 19th. Investors of record on Thursday, August 28th will be paid a $0.05 dividend. This represents a yield of 1.21%. The ex-dividend date of this dividend is Thursday, August 28th. Glencore’s payout ratio is currently -280.06%.

Insiders Place Their Bets

In related news, insider Liz Hewitt acquired 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average cost of GBX 302 ($3.91) per share, for a total transaction of £151,000 ($195,443.96). 10.35% of the stock is owned by company insiders.

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.