Glencore (LON:GLEN) PT Lowered to GBX 620

Glencore (LON:GLEN – Get Rating) had its target price reduced by JPMorgan Chase & Co. from GBX 630 ($7.68) to GBX 620 ($7.56) in a report issued on Monday, LSE.Co.UK reports. JPMorgan Chase & Co. currently has an overweight rating on the natural resources company’s stock.

A number of other research firms have also recently issued reports on GLEN. AlphaValue cut shares of Glencore to an add rating in a research note on Wednesday, February 15th. Deutsche Bank Aktiengesellschaft set a GBX 575 ($7.01) price objective on Glencore in a report on Thursday, February 16th. The Goldman Sachs Group set a GBX 640 ($7.80) price objective on Glencore in a report on Wednesday, December 7th. Citigroup restated a buy rating and issued a GBX 650 ($7.92) price objective on shares of Glencore in a report on Tuesday, February 21st. Finally, Jefferies Financial Group set a GBX 700 ($8.53) price objective on Glencore in a report on Wednesday, February 15th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Glencore has a consensus rating of Buy and a consensus target price of GBX 614.17 ($7.49).

Glencore Price Performance

Glencore stock opened at GBX 453.60 ($5.53) on Monday. The company’s fifty day moving average price is GBX 526.19 and its 200 day moving average price is GBX 516.24. Glencore has a 1 year low of GBX 395.40 ($4.82) and a 1 year high of GBX 584.50 ($7.12). The stock has a market capitalization of £57.29 billion, a P/E ratio of 409.55, a P/E/G ratio of 0.43 and a beta of 1.28. The company has a debt-to-equity ratio of 64.96, a quick ratio of 0.32 and a current ratio of 1.30.

Glencore Increases Dividend

The business also recently declared a dividend, which will be paid on Friday, September 22nd. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.22 per share. This represents a dividend yield of 3.51%. The ex-dividend date is Thursday, August 31st. This is a positive change from Glencore’s previous dividend of $0.13. Glencore’s payout ratio is currently 3,214.29%.

About Glencore

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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.