Insider Buying: Glencore plc (LON:GLEN) Insider Buys £151,000 in Stock

Glencore plc (LON:GLEN) insider Liz Hewitt bought 50,000 shares of the stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of GBX 302 ($3.89) per share, for a total transaction of £151,000 ($194,412.26).

Glencore Price Performance

GLEN stock opened at GBX 304.30 ($3.92) on Thursday. Glencore plc has a 52-week low of GBX 298.40 ($3.84) and a 52-week high of GBX 506.72 ($6.52). The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. The stock has a market cap of £46.42 billion, a price-to-earnings ratio of -85.22, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The business has a fifty day moving average of GBX 336.66 and a two-hundred day moving average of GBX 369.54.

Glencore Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on GLEN shares. Morgan Stanley upgraded shares of Glencore to an “overweight” rating and set a GBX 470 ($6.05) price target on the stock in a research report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 480 ($6.18) target price on shares of Glencore in a report on Thursday, February 20th. Royal Bank of Canada cut their price target on Glencore from GBX 480 ($6.18) to GBX 440 ($5.66) and set an “outperform” rating for the company in a report on Thursday, February 20th. Berenberg Bank initiated coverage on Glencore in a research note on Monday, March 10th. They set a “buy” rating and a GBX 380 ($4.89) price objective on the stock. Finally, Citigroup reaffirmed a “top pick” rating on shares of Glencore in a research note on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Glencore presently has a consensus rating of “Buy” and a consensus target price of GBX 476.43 ($6.13).

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.