Glencore (GLEN) Given New GBX 400 Price Target at Barclays

Glencore (LON:GLEN) had its target price cut by Barclays from GBX 430 ($5.79) to GBX 400 ($5.38) in a research report report published on Thursday morning. They currently have an overweight rating on the natural resources company’s stock.

Several other equities analysts have also weighed in on GLEN. Royal Bank of Canada reiterated an outperform rating and set a GBX 410 ($5.52) price objective on shares of Glencore in a report on Thursday, August 31st. Liberum Capital lowered shares of Glencore to a sell rating and upped their target price for the stock from GBX 285 ($3.84) to GBX 300 ($4.04) in a report on Thursday, October 26th. Macquarie restated an outperform rating and issued a GBX 395 ($5.32) target price on shares of Glencore in a report on Wednesday, August 30th. Credit Suisse Group upped their target price on shares of Glencore from GBX 397 ($5.34) to GBX 445 ($5.99) and gave the stock an outperform rating in a report on Thursday, October 26th. Finally, BNP Paribas set a GBX 440 ($5.92) target price on shares of Glencore and gave the stock a buy rating in a report on Wednesday, September 6th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of GBX 396.43 ($5.34).

Shares of Glencore (LON:GLEN) traded up GBX 5.40 ($0.07) during trading on Thursday, hitting GBX 362.75 ($4.88). 59,300,589 shares of the company traded hands, compared to its average volume of 36,220,000. Glencore has a one year low of GBX 260.50 ($3.51) and a one year high of GBX 388.25 ($5.23).

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About Glencore

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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