Glencore (LON:GLEN) Reaches New 1-Year Low - Time to Sell?

Glencore plc (LON:GLEN - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as GBX 272.40 ($3.47) and last traded at GBX 276.55 ($3.52), with a volume of 553404063 shares changing hands. The stock had previously closed at GBX 282.95 ($3.60).

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup reaffirmed a "top pick" rating on shares of Glencore in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a GBX 480 ($6.11) price target on shares of Glencore in a report on Thursday, February 20th. Royal Bank of Canada decreased their price target on shares of Glencore from GBX 480 ($6.11) to GBX 440 ($5.60) and set an "outperform" rating for the company in a research note on Thursday, February 20th. Morgan Stanley raised shares of Glencore to an "overweight" rating and set a GBX 470 ($5.98) price objective on the stock in a research report on Tuesday, February 18th. Finally, Berenberg Bank initiated coverage on Glencore in a research report on Monday, March 10th. They issued a "buy" rating and a GBX 380 ($4.84) target price for the company. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of GBX 476.43 ($6.06).

Glencore Stock Performance

The firm has a market cap of £35.09 billion, a P/E ratio of -64.43, a PEG ratio of 0.43 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14. The company's 50-day moving average is GBX 320.09 and its two-hundred day moving average is GBX 362.57.

Glencore Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, September 19th. Stockholders of record on Thursday, August 28th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a dividend yield of 1.21%. Glencore's dividend payout ratio is presently -280.06%.

Insider Buying and Selling

In other news, insider Martin J. Gilbert bought 15,000 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were purchased at an average price of GBX 285 ($3.63) per share, with a total value of £42,750 ($54,417.01). Also, insider Liz Hewitt bought 50,000 shares of the business's stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of GBX 302 ($3.84) per share, for a total transaction of £151,000 ($192,209.78). Over the last 90 days, insiders purchased 70,000 shares of company stock worth $20,540,000. 10.35% of the stock is owned by corporate 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.