Glencore plc (LON:GLEN) Receives GBX 476.43 Consensus Price Target from Brokerages

Glencore plc (LON:GLEN - Get Free Report) has been given an average recommendation of "Buy" by the eight brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is GBX 476.43 ($6.19).

GLEN has been the subject of a number of research reports. Morgan Stanley upgraded Glencore to an "overweight" rating and set a GBX 470 ($6.11) price objective for the company in a report on Tuesday, February 18th. Royal Bank of Canada decreased their price target on shares of Glencore from GBX 480 ($6.24) to GBX 440 ($5.72) and set an "outperform" rating for the company in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 480 ($6.24) price objective on shares of Glencore in a research note on Thursday, February 20th. Citigroup reaffirmed a "top pick" rating on shares of Glencore in a research note on Thursday, December 12th. Finally, Berenberg Bank initiated coverage on Glencore in a research report on Monday, March 10th. They issued a "buy" rating and a GBX 380 ($4.94) price target on the stock.

Glencore Stock Down 1.3 %

Shares of LON:GLEN traded down GBX 4.05 ($0.05) during trading on Friday, hitting GBX 315.05 ($4.10). The stock had a trading volume of 39,323,094 shares, compared to its average volume of 41,535,883. The company has a market capitalization of £48.06 billion, a PE ratio of -88.23, a PEG 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 firm's fifty day moving average is GBX 343.73 and its 200 day moving average is GBX 373.85. Glencore has a 12 month low of GBX 309.15 ($4.02) and a 12 month high of GBX 506.72 ($6.59).

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Glencore Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, September 19th. Investors of record on Thursday, August 28th will be given a $0.05 dividend. 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 presently -280.06%.

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.