Morgan Stanley reaffirmed their overweight rating on shares of Glencore (LON:GLEN) in a research note issued to investors on Wednesday, ThisIsMoney.Co.Uk reports.
A number of other analysts have also recently commented on GLEN. Jefferies Financial Group cut shares of Glencore to a hold rating and lowered their target price for the stock from GBX 175 ($2.23) to GBX 150 ($1.91) in a research note on Monday, April 27th. Royal Bank of Canada reduced their price target on shares of Glencore from GBX 210 ($2.67) to GBX 190 ($2.42) and set a sector performer rating for the company in a research report on Monday, April 6th. Credit Suisse Group reduced their price target on shares of Glencore from GBX 300 ($3.82) to GBX 260 ($3.31) and set an outperform rating for the company in a research report on Tuesday, April 7th. JPMorgan Chase & Co. raised their price target on shares of Glencore from GBX 170 ($2.16) to GBX 180 ($2.29) and gave the stock an underweight rating in a research report on Monday. Finally, Citigroup reissued a buy rating on shares of Glencore in a research report on Tuesday, May 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of Buy and an average price target of GBX 236.33 ($3.01).
GLEN stock traded down GBX 10.04 ($0.13) during trading on Wednesday, reaching GBX 168.70 ($2.15). The company had a trading volume of 33,272,535 shares, compared to its average volume of 46,120,000. The firm has a 50-day simple moving average of GBX 150.62 and a 200-day simple moving average of GBX 189.78. The company has a market cap of $22.61 billion and a price-to-earnings ratio of 27.64. The company has a debt-to-equity ratio of 86.29, a quick ratio of 0.39 and a current ratio of 1.05. Glencore has a twelve month low of GBX 1.41 ($0.02) and a twelve month high of GBX 2,334.50 ($29.71).
In other Glencore news, insider Peter Coates bought 80,000 shares of the stock in a transaction on Monday, April 6th. The shares were bought at an average price of GBX 127 ($1.62) per share, with a total value of £101,600 ($129,311.44).
Glencore Company Profile
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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