Glencore (LON:GLEN) Hits New 1-Year High – Time to Buy?

Glencore plc (LON:GLEN)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 399.80 and last traded at GBX 399.25, with a volume of 140639625 shares. The stock had previously closed at GBX 394.30.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GLEN shares. Royal Bank Of Canada restated an “outperform” rating and set a GBX 320 target price on shares of Glencore in a research report on Wednesday, December 3rd. Berenberg Bank reissued a “hold” rating and set a GBX 350 price target on shares of Glencore in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on Glencore from GBX 400 to GBX 450 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of GBX 391.67.

Glencore Stock Performance

The company has a market cap of £47.71 billion, a PE ratio of -25.41, a P/E/G ratio of 0.43 and a beta of 1.21. The stock’s 50 day simple moving average is GBX 368.67 and its two-hundred day simple moving average is GBX 330.20. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14.

About Glencore

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.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.