Glencore (LON:GLEN) has been assigned a GBX 450 ($6.10) price target by research analysts at Goldman Sachs Group in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the natural resources company’s stock. Goldman Sachs Group’s target price indicates a potential upside of 10.29% from the company’s current price.
A number of other research firms also recently issued reports on GLEN. Barclays raised their price objective on shares of Glencore from GBX 400 ($5.42) to GBX 450 ($6.10) and gave the stock an “overweight” rating in a report on Monday. Macquarie restated a “buy” rating on shares of Glencore in a report on Monday, November 6th. Credit Suisse Group raised their price objective on shares of Glencore from GBX 397 ($5.38) to GBX 445 ($6.03) and gave the stock an “outperform” rating in a report on Thursday, October 26th. Liberum Capital downgraded shares of Glencore to a “sell” rating and raised their price objective for the stock from GBX 285 ($3.86) to GBX 300 ($4.07) in a report on Thursday, October 26th. Finally, reiterated a “buy” rating and issued a GBX 420 ($5.70) target price on shares of Glencore in a research note on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of GBX 398.61 ($5.41).
Shares of Glencore (LON:GLEN) opened at GBX 408 ($5.53) on Tuesday. Glencore has a 1-year low of GBX 270 ($3.66) and a 1-year high of GBX 407.35 ($5.52). The stock has a market cap of $58,730.00 and a PE ratio of 3,709.09.
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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