Glencore plc (LON:GLEN) Given Average Recommendation of "Buy" by Brokerages

Shares of Glencore plc (LON:GLEN - Get Free Report) have earned a consensus recommendation of "Buy" from the eight research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is GBX 476.43 ($6.31).

A number of analysts have recently commented on the company. Morgan Stanley raised Glencore to an "overweight" rating and set a GBX 470 ($6.22) price target on the stock in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 480 ($6.35) target price on shares of Glencore in a research report on Thursday, February 20th. Royal Bank of Canada decreased their price target on shares of Glencore from GBX 480 ($6.35) to GBX 440 ($5.82) and set an "outperform" rating for the company in a research report on Thursday, February 20th. Finally, Berenberg Bank began coverage on shares of Glencore in a report on Monday, March 10th. They set a "buy" rating and a GBX 380 ($5.03) price target on the stock.

Glencore Price Performance

GLEN stock traded down GBX 3.33 ($0.04) during midday trading on Thursday, reaching GBX 256.72 ($3.40). 75,649,031 shares of the stock were exchanged, compared to its average volume of 45,091,770. Glencore has a 52 week low of GBX 205 ($2.71) and a 52 week high of GBX 506.72 ($6.71). The company has a fifty day moving average price of GBX 303.46 and a 200 day moving average price of GBX 355.45. 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 stock has a market capitalization of £39.16 billion, a PE ratio of -71.90, a P/E/G ratio of 0.43 and a beta of 1.21.

Glencore Cuts Dividend

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

Insider Buying and Selling

In other Glencore news, insider Liz Hewitt purchased 50,000 shares of the business's stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of GBX 302 ($4.00) per share, for a total transaction of £151,000 ($199,841.19). Also, insider Martin J. Gilbert acquired 5,000 shares of Glencore stock in a transaction dated Friday, April 4th. The shares were bought at an average cost of GBX 233 ($3.08) per share, with a total value of £11,650 ($15,418.21). Insiders bought 70,000 shares of company stock valued at $20,540,000 over the last quarter. 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.