Glencore (GLEN) Reaches New 1-Year High After Analyst Upgrade

Glencore PLC (LON:GLEN) shares reached a new 52-week high during mid-day trading on Monday after Barclays raised their price target on the stock from GBX 400 to GBX 450. Barclays currently has an overweight rating on the stock. Glencore traded as high as GBX 395.75 ($5.37) and last traded at GBX 395.05 ($5.36), with a volume of 33105724 shares changing hands. The stock had previously closed at GBX 395.05 ($5.36).

Several other analysts also recently issued reports on the stock. UBS Group set a GBX 380 ($5.15) target price on shares of Glencore and gave the company a “neutral” rating in a research note on Tuesday, December 19th. JPMorgan Chase & Co. set a GBX 450 ($6.10) target price on shares of Glencore and gave the company a “buy” rating in a research note on Thursday, December 14th. Jefferies Group reissued a “buy” rating and set a GBX 450 ($6.10) target price on shares of Glencore in a research note on Wednesday, December 13th. Goldman Sachs Group reissued a “conviction-buy” rating on shares of Glencore in a research note on Wednesday, December 13th. Finally, Citigroup reissued a “buy” rating and set a GBX 410 ($5.56) target price on shares of Glencore in a research note on Wednesday, December 13th. Three research analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of GBX 398.61 ($5.41).

The stock has a market capitalization of $56,770.00 and a price-to-earnings ratio of 3,589.64.

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Glencore 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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