Glencore PLC (LON:GLEN) had its price target raised by research analysts at Goldman Sachs Group, Inc. (The) from GBX 350 ($4.56) to GBX 400 ($5.21) in a research note issued to investors on Sunday, July 30th, StockTargetPrices.com reports. The firm currently has a “buy” rating on the natural resources company’s stock. Goldman Sachs Group, Inc. (The)’s price objective indicates a potential upside of 24.22% from the company’s previous close.
Several other research analysts have also commented on the company. JPMorgan Chase & Co. decreased their target price on Glencore PLC from GBX 330 ($4.30) to GBX 320 ($4.17) and set a “neutral” rating for the company in a research report on Friday, July 28th. Citigroup Inc. reiterated a “buy” rating and issued a GBX 350 ($4.56) target price on shares of Glencore PLC in a research report on Friday, July 28th. Jefferies Group LLC reiterated a “buy” rating and issued a GBX 380 ($4.95) target price on shares of Glencore PLC in a research report on Friday, July 28th. HSBC Holdings plc restated a “buy” rating and set a GBX 380 ($4.95) price objective on shares of Glencore PLC in a research report on Friday, July 28th. Finally, UBS AG set a GBX 350 ($4.56) price objective on Glencore PLC and gave the company a “buy” rating in a research report on Thursday, July 27th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Glencore PLC has an average rating of “Hold” and an average target price of GBX 343.04 ($4.47).
Shares of Glencore PLC (LON:GLEN) opened at 322.00 on Friday. The stock has a 50 day moving average price of GBX 315.64 and a 200 day moving average price of GBX 310.18. Glencore PLC has a 12-month low of GBX 171.50 and a 12-month high of GBX 348.25. The firm’s market capitalization is GBX 45.89 billion.
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In other news, insider Martin J. Gilbert bought 50,000 shares of the stock in a transaction on Thursday, August 10th. The shares were purchased at an average price of GBX 338 ($4.40) per share, for a total transaction of £169,000 ($220,080.74).
Glencore PLC Company Profile
Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.
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