Glencore (LON:GLEN) Sets New 52-Week Low – Here’s What Happened

Shares of Glencore plc (LON:GLEN) reached a new 52-week low during trading on Tuesday . The stock traded as low as GBX 316.40 ($3.99) and last traded at GBX 317.95 ($4.01), with a volume of 40902996 shares changing hands. The stock had previously closed at GBX 323.85 ($4.08).

Analyst Upgrades and Downgrades

Several analysts have recently commented on GLEN shares. Morgan Stanley raised shares of Glencore to an “overweight” rating and set a GBX 470 ($5.92) price target on the stock in a research report on Tuesday, February 18th. Citigroup reaffirmed a “top pick” rating on shares of Glencore in a research report on Thursday, December 12th. Royal Bank of Canada cut their target price on Glencore from GBX 480 ($6.05) to GBX 440 ($5.55) and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 480 ($6.05) target price on shares of Glencore in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Glencore currently has an average rating of “Buy” and a consensus target price of GBX 492.50 ($6.21).

Glencore Trading Down 1.6 %

The company’s 50 day simple moving average is GBX 354.48 and its 200 day simple moving average is GBX 382.58. The firm has a market cap of £48.33 billion, a price-to-earnings ratio of -88.74, a P/E/G ratio of 0.43 and a beta of 1.21. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32.

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.