Glencore (LON:GLEN) Upgraded to “Overweight” at Morgan Stanley

Glencore (LON:GLEN) was upgraded by stock analysts at Morgan Stanley to an “overweight” rating in a report released on Tuesday,Digital Look reports. The firm presently has a GBX 470 ($5.93) price objective on the natural resources company’s stock. Morgan Stanley’s price objective points to a potential upside of 40.21% from the stock’s current price.

Separately, Citigroup reissued a “top pick” rating on shares of Glencore in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Glencore has a consensus rating of “Buy” and a consensus target price of GBX 507 ($6.40).

Glencore Trading Down 5.2 %

LON:GLEN traded down GBX 18.35 ($0.23) on Tuesday, reaching GBX 335.20 ($4.23). 289,616,281 shares of the stock traded hands, compared to its average volume of 45,365,414. The firm has a market capitalization of £51.13 billion, a price-to-earnings ratio of -93.88, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The company’s 50 day moving average is GBX 360.47 and its 200-day moving average is GBX 387.34. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14. Glencore has a 1-year low of GBX 325 ($4.10) and a 1-year high of GBX 506.72 ($6.39).

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.