Berenberg Bank Lowers Glencore (LON:GLEN) Price Target to GBX 380

Glencore (LON:GLEN) had its price objective dropped by equities researchers at Berenberg Bank from GBX 400 ($5.31) to GBX 380 ($5.05) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a “buy” rating on the natural resources company’s stock. Berenberg Bank’s price objective points to a potential upside of 55.42% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 480 ($6.38) price target on shares of Glencore in a report on Thursday, February 20th. Morgan Stanley raised shares of Glencore to an “overweight” rating and set a GBX 470 ($6.24) price objective for the company in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada dropped their price objective on shares of Glencore from GBX 480 ($6.38) to GBX 440 ($5.85) and set an “outperform” rating on the stock in a research report on Thursday, February 20th. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of GBX 454 ($6.03).

Glencore Price Performance

LON:GLEN opened at GBX 244.50 ($3.25) on Wednesday. The stock has a market capitalization of £37.30 billion, a PE ratio of -68.48, a P/E/G ratio of 0.43 and a beta of 1.21. Glencore has a 1-year low of GBX 205 ($2.72) and a 1-year high of GBX 506.72 ($6.73). The firm has a fifty day simple moving average of GBX 283.54 and a 200 day simple moving average of GBX 341.92. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14.

Insiders Place Their Bets

In other Glencore news, insider Martin J. Gilbert bought 5,000 shares of Glencore stock in a transaction on Friday, April 4th. The shares were purchased at an average price of GBX 233 ($3.10) per share, with a total value of £11,650 ($15,477.61). Also, insider Liz Hewitt acquired 50,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of GBX 302 ($4.01) per share, with a total value of £151,000 ($200,611.13). Insiders have acquired a total of 70,000 shares of company stock worth $20,540,000 in the last quarter. Corporate insiders own 10.35% of the company’s stock.

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.