Glencore (LON:GLEN) Upgraded by Morgan Stanley to Overweight Rating

Glencore (LON:GLEN - Get Free Report) was upgraded by Morgan Stanley to an "overweight" rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has a GBX 470 ($5.94) price objective on the natural resources company's stock. Morgan Stanley's price objective would suggest a potential upside of 45.13% from the stock's previous close.

Separately, Citigroup reiterated a "top pick" rating on shares of Glencore in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of GBX 492.50 ($6.22).

Glencore Price Performance

GLEN stock traded down GBX 1.70 ($0.02) during midday trading on Tuesday, reaching GBX 323.85 ($4.09). The company had a trading volume of 94,661,641 shares, compared to its average volume of 42,153,262. Glencore has a 1-year low of GBX 320.50 ($4.05) and a 1-year high of GBX 506.72 ($6.40). The stock has a 50 day moving average price of GBX 357.22 and a 200-day moving average price of GBX 385.70. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The company has a market capitalization of £49.40 billion, a price-to-earnings ratio of -90.70, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21.

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.