Royal Bank of Canada Issues Pessimistic Forecast for Glencore (LON:GLEN) Stock Price

Glencore (LON:GLEN - Get Free Report) had its target price reduced by equities research analysts at Royal Bank of Canada from GBX 480 ($6.06) to GBX 440 ($5.56) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm currently has an "outperform" rating on the natural resources company's stock. Royal Bank of Canada's price target suggests a potential upside of 35.87% from the stock's previous close.

GLEN has been the topic of a number of other reports. Morgan Stanley raised Glencore to an "overweight" rating and set a GBX 470 ($5.94) price objective on the stock in a report on Tuesday. Citigroup reaffirmed 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, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of GBX 492.50 ($6.22).

Glencore Price Performance

LON GLEN traded down GBX 1.70 ($0.02) during trading on Thursday, reaching GBX 323.85 ($4.09). 94,661,641 shares of the company traded hands, compared to its average volume of 42,153,262. The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30. The stock's 50 day moving average price is GBX 357.22 and its two-hundred day moving average price is GBX 385.70. The company has a market cap of £49.40 billion, a price-to-earnings ratio of -90.70, a P/E/G ratio of 0.43 and a beta of 1.21. Glencore has a 1-year low of GBX 320.50 ($4.05) and a 1-year high of GBX 506.72 ($6.40).

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.