Glencore plc (LON:GLEN) Receives Average Rating of “Buy” from Brokerages

Glencore plc (LON:GLEN) has received an average recommendation of “Buy” from the six analysts that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is GBX 454 ($6.04).

Several research analysts have recently issued reports on GLEN shares. Berenberg Bank reduced their price objective on Glencore from GBX 400 ($5.32) to GBX 380 ($5.06) and set a “buy” rating for the company in a research note on Wednesday, April 30th. Morgan Stanley raised Glencore to an “overweight” rating and set a GBX 470 ($6.25) price target on the stock in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 480 ($6.39) price objective on shares of Glencore in a research note on Thursday, February 20th. Finally, Royal Bank of Canada lowered their price target on shares of Glencore from GBX 480 ($6.39) to GBX 440 ($5.85) and set an “outperform” rating on the stock in a report on Thursday, February 20th.

Insiders Place Their Bets

In other news, insider Liz Hewitt acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was purchased at an average price of GBX 302 ($4.02) per share, with a total value of £151,000 ($200,878.01). Also, insider Martin J. Gilbert purchased 5,000 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of GBX 233 ($3.10) per share, with a total value of £11,650 ($15,498.20). In the last three months, insiders bought 70,000 shares of company stock worth $20,540,000. Corporate insiders own 10.35% of the company’s stock.

Glencore Stock Performance

Shares of Glencore stock opened at GBX 252.30 ($3.36) on Monday. The company has a 50 day moving average price of GBX 275.33 and a 200 day moving average price of GBX 335.06. The firm has a market capitalization of £38.49 billion, a P/E ratio of -70.66, a PEG 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 52 week low of GBX 205 ($2.73) and a 52 week high of GBX 506.72 ($6.74).

Glencore Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, September 19th. Stockholders of record on Thursday, August 28th will be given a $0.05 dividend. The ex-dividend date is Thursday, August 28th. This represents a dividend yield of 1.21%. Glencore’s dividend payout ratio (DPR) is -280.06%.

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.