Royal Bank of Canada Cuts Glencore (LON:GLEN) Price Target to GBX 440

Glencore (LON:GLEN) had its price target lowered by equities research analysts at Royal Bank of Canada from GBX 480 ($6.04) to GBX 440 ($5.54) in a research note issued on Thursday, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the natural resources company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 34.95% from the stock’s previous close.

Several other brokerages have also weighed in on GLEN. Citigroup reiterated a “top pick” rating on shares of Glencore in a research note on Thursday, December 12th. Morgan Stanley upgraded Glencore to an “overweight” rating and set a GBX 470 ($5.91) target price on the stock in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Glencore presently has a consensus rating of “Buy” and an average target price of GBX 492.50 ($6.20).

Glencore Stock Down 0.5 %

Shares of GLEN traded down GBX 1.76 ($0.02) during midday trading on Thursday, reaching GBX 326.04 ($4.10). 45,832,449 shares of the stock were exchanged, compared to its average volume of 40,698,688. The company has a market cap of £49.73 billion, a price-to-earnings ratio of -91.31, a P/E/G ratio of 0.43 and a beta of 1.21. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. Glencore has a 12-month low of GBX 324.10 ($4.08) and a 12-month high of GBX 506.72 ($6.38). The firm has a 50 day simple moving average of GBX 359.31 and a 200-day simple moving average of GBX 386.55.

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.