Glencore plc (LON:GLEN) Given Consensus Rating of “Buy” by Brokerages

Glencore plc (LON:GLEN) has earned an average rating of “Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is GBX 454 ($6.02).

A number of analysts have recently issued reports on GLEN shares. Berenberg Bank cut their price target on Glencore from GBX 400 ($5.31) to GBX 380 ($5.04) and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 480 ($6.37) price target on shares of Glencore in a report on Thursday, February 20th. Morgan Stanley raised Glencore to an “overweight” rating and set a GBX 470 ($6.24) target price on the stock in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada cut their price target on Glencore from GBX 480 ($6.37) to GBX 440 ($5.84) and set an “outperform” rating on the stock in a report on Thursday, February 20th.

Glencore Price Performance

GLEN opened at GBX 246.90 ($3.28) on Monday. Glencore has a 52-week low of GBX 205 ($2.72) and a 52-week high of GBX 506.72 ($6.72). The company has a market cap of £37.66 billion, a P/E ratio of -69.15, a P/E/G ratio of 0.43 and a beta of 1.21. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. The company has a 50 day moving average of GBX 282.16 and a two-hundred day moving average of GBX 340.10.

Glencore Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, September 19th. Shareholders of record on Thursday, August 28th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a yield of 1.21%. Glencore’s dividend payout ratio (DPR) is currently -280.06%.

Insider Transactions at Glencore

In related news, insider Martin J. Gilbert bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of GBX 233 ($3.09) per share, for a total transaction of £11,650 ($15,459.13). Also, insider Liz Hewitt acquired 50,000 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of GBX 302 ($4.01) per share, for a total transaction of £151,000 ($200,371.55). Over the last three months, insiders bought 70,000 shares of company stock worth $20,540,000. 10.35% of the stock is owned by insiders.

Glencore Company Profile

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.