Glencore (LON:GLEN) Reaches New 52-Week Low - What's Next?

Glencore plc (LON:GLEN - Get Free Report)'s share price hit a new 52-week low on Friday . The company traded as low as GBX 305.80 ($3.95) and last traded at GBX 306.30 ($3.96), with a volume of 493486438 shares. The stock had previously closed at GBX 310 ($4.01).

Analyst Upgrades and Downgrades

GLEN has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their target price on shares of Glencore from GBX 480 ($6.20) to GBX 440 ($5.69) and set an "outperform" rating on the stock in a research note on Thursday, February 20th. Berenberg Bank initiated coverage on Glencore in a research report on Monday, March 10th. They issued a "buy" rating and a GBX 380 ($4.91) price target on the stock. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 480 ($6.20) price objective on shares of Glencore in a research report on Thursday, February 20th. Morgan Stanley raised Glencore to an "overweight" rating and set a GBX 470 ($6.07) target price on the stock in a report on Tuesday, February 18th. Finally, Citigroup reiterated a "top pick" rating on shares of Glencore in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of GBX 476.43 ($6.16).

Glencore Stock Performance

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 stock has a fifty day simple moving average of GBX 339.20 and a 200-day simple moving average of GBX 370.96. The company has a market capitalization of £46.45 billion, a P/E ratio of -85.28, a PEG ratio of 0.43 and a beta of 1.21.

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Glencore Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, September 19th. Shareholders of record on Thursday, August 28th will be given a $0.05 dividend. The ex-dividend date is Thursday, August 28th. This represents a yield of 1.21%. Glencore's dividend payout ratio (DPR) is presently -280.06%.

Insiders Place Their Bets

In other Glencore news, insider Liz Hewitt bought 50,000 shares of the stock in a transaction dated Friday, March 21st. The stock was bought at an average cost of GBX 302 ($3.90) per share, for a total transaction of £151,000 ($195,115.65). 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.