Glencore (GLEN) Hits New 52-Week High on Analyst Upgrade

Glencore PLC (LON:GLEN)’s share price hit a new 52-week high on Monday after Barclays raised their price target on the stock from GBX 400 to GBX 450. Barclays currently has an overweight rating on the stock. Glencore traded as high as GBX 395.75 ($5.37) and last traded at GBX 395.05 ($5.36), with a volume of 33105724 shares. The stock had previously closed at GBX 395.05 ($5.36).

A number of other equities analysts have also weighed in on the company. UBS Group set a GBX 380 ($5.15) target price on Glencore and gave the stock a “neutral” rating in a research note on Tuesday, December 19th. JPMorgan Chase & Co. set a GBX 450 ($6.10) target price on Glencore and gave the stock a “buy” rating in a research note on Thursday, December 14th. Jefferies Group restated a “buy” rating and set a GBX 450 ($6.10) price objective on shares of Glencore in a research note on Wednesday, December 13th. Goldman Sachs Group restated a “conviction-buy” rating on shares of Glencore in a research note on Wednesday, December 13th. Finally, Citigroup restated a “buy” rating and set a GBX 410 ($5.56) price objective on shares of Glencore in a research note on Wednesday, December 13th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of GBX 398.61 ($5.41).

The company has a market capitalization of $57,330.00 and a price-to-earnings ratio of 3,620.00.

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About Glencore

Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.

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