Glencore (LON:GLEN) Given Equal Weight Rating at Barclays

Barclays reissued their equal weight rating on shares of Glencore (LON:GLEN) in a research note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a GBX 515 ($6.47) price target on the natural resources company’s stock.

Glencore Stock Performance

Shares of LON:GLEN opened at GBX 464.40 ($5.83) on Wednesday. The company’s 50 day moving average price is GBX 433.19 and its two-hundred day moving average price is GBX 436.46. Glencore has a 12-month low of GBX 365.31 ($4.59) and a 12-month high of GBX 491.65 ($6.18). The firm has a market cap of £56.42 billion, a PE ratio of 1,727.78, a PEG ratio of 0.43 and a beta of 1.32. The company has a quick ratio of 0.32, a current ratio of 1.29 and a debt-to-equity ratio of 85.91.

Glencore Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, September 20th. Stockholders of record on Thursday, August 29th will be paid a dividend of $0.07 per share. This represents a dividend yield of 1.32%. The ex-dividend date of this dividend is Thursday, August 29th. Glencore’s payout ratio is currently 3,703.70%.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of 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 engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.