The Goldman Sachs Group Reiterates “GBX 710” Price Target for Glencore (LON:GLEN)

Glencore (LON:GLENGet Rating) has been given a GBX 710 ($8.90) price objective by stock analysts at The Goldman Sachs Group in a report issued on Wednesday, Borsen Zeitung reports. The Goldman Sachs Group’s price target points to a potential upside of 32.44% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 580 ($7.27) target price on shares of Glencore in a research report on Thursday, May 26th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Glencore in a research report on Tuesday, March 15th. Barclays increased their target price on shares of Glencore from GBX 730 ($9.15) to GBX 770 ($9.65) and gave the company an “overweight” rating in a research report on Wednesday, May 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a GBX 590 ($7.39) target price on shares of Glencore in a research report on Wednesday, May 11th. Finally, Morgan Stanley restated an “overweight” rating on shares of Glencore in a research report on Wednesday, May 11th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 581 ($7.28).

LON:GLEN opened at GBX 536.10 ($6.72) on Wednesday. The company has a debt-to-equity ratio of 94.11, a quick ratio of 0.32 and a current ratio of 1.17. The company has a fifty day moving average of GBX 502.83 and a two-hundred day moving average of GBX 444.08. The stock has a market capitalization of £70.45 billion and a PE ratio of 18.29. Glencore has a fifty-two week low of GBX 289.65 ($3.63) and a fifty-two week high of GBX 548.30 ($6.87).

About Glencore (Get Rating)

Glencore plc produces, refines, processes, stores, transports, and markets metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments, Marketing Activities and Industrial Activities. The company produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.

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