Glencore (LON:GLEN) Stock Price Down 5% – What’s Next?

Glencore plc (LON:GLEN)’s share price fell 5% during mid-day trading on Wednesday . The stock traded as low as GBX 335.60 ($4.25) and last traded at GBX 335.80 ($4.25). 219,866,219 shares were traded during trading, an increase of 406% from the average session volume of 43,414,914 shares. The stock had previously closed at GBX 353.55 ($4.48).

Analysts Set New Price Targets

Several research firms have recently issued reports on GLEN. Citigroup restated a “top pick” rating on shares of Glencore in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 480 ($6.08) target price on shares of Glencore in a research report on Thursday. Morgan Stanley upgraded Glencore to an “overweight” rating and set a GBX 470 ($5.96) target price for the company in a research report on Tuesday. Finally, Royal Bank of Canada decreased their target price on Glencore from GBX 480 ($6.08) to GBX 440 ($5.58) and set an “outperform” rating for the company in a research report on Thursday. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Glencore presently has a consensus rating of “Buy” and an average target price of GBX 492.50 ($6.24).

Glencore Price Performance

The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30. The company has a 50-day moving average of GBX 358.17 and a 200-day moving average of GBX 386.13. The firm has a market capitalization of £49.29 billion, a price-to-earnings ratio of -90.50, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21.

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.