Glencore plc (LON:GLEN) Receives GBX 476.43 Consensus Target Price from Brokerages

Shares of Glencore plc (LON:GLEN) have been given a consensus recommendation of “Buy” by the eight brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is GBX 476.43 ($6.15).

Several research firms have recently issued reports on GLEN. Royal Bank of Canada lowered their target price on shares of Glencore from GBX 480 ($6.20) to GBX 440 ($5.68) and set an “outperform” rating for the company in a report on Thursday, February 20th. Berenberg Bank began coverage on shares of Glencore in a report on Monday, March 10th. They issued a “buy” rating and a GBX 380 ($4.91) target price for the company. Morgan Stanley upgraded shares of Glencore to an “overweight” rating and set a GBX 470 ($6.07) target price for the company in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 480 ($6.20) target price on shares of Glencore in a report on Thursday, February 20th. Finally, Citigroup reiterated a “top pick” rating on shares of Glencore in a report on Thursday, December 12th.

Glencore Price Performance

Glencore stock opened at GBX 299.20 ($3.86) on Friday. The firm has a 50-day moving average price of GBX 340.42 and a 200-day moving average price of GBX 371.99. The firm has a market capitalization of £45.64 billion, a PE ratio of -83.79, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14. Glencore has a 12-month low of GBX 298.40 ($3.85) and a 12-month high of GBX 506.72 ($6.54).

Glencore Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, September 19th. Investors of record on Thursday, August 28th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a yield of 1.21%. Glencore’s payout ratio is -280.06%.

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.