Glencore (GLEN) Earns “Buy” Rating from Citigroup

Citigroup reiterated their buy rating on shares of Glencore (LON:GLEN) in a report issued on Wednesday, March 21st. The firm currently has a GBX 410 ($5.80) price objective on the natural resources company’s stock.

Other equities research analysts also recently issued research reports about the stock. Jefferies Group reiterated a buy rating and issued a GBX 450 ($6.36) target price on shares of Glencore in a research report on Wednesday, December 13th. Goldman Sachs set a GBX 450 ($6.36) target price on shares of Glencore and gave the stock a buy rating in a research report on Friday, February 2nd. UBS set a GBX 380 ($5.37) target price on shares of Glencore and gave the stock a neutral rating in a research report on Friday, February 2nd. Liberum Capital restated a sell rating and set a GBX 300 ($4.24) price target on shares of Glencore in a research note on Tuesday, December 12th. Finally, JPMorgan Chase restated an overweight rating and set a GBX 470 ($6.64) price target on shares of Glencore in a research note on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of GBX 421.95 ($5.96).

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Shares of LON:GLEN traded up GBX 0.05 ($0.00) during mid-day trading on Wednesday, hitting GBX 342.45 ($4.84). The stock had a trading volume of 32,189,734 shares, compared to its average volume of 46,120,000. Glencore has a 12-month low of GBX 270 ($3.82) and a 12-month high of GBX 416.91 ($5.89).

The business also recently declared a dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, September 6th will be given a $0.10 dividend. The ex-dividend date is Thursday, September 6th. This represents a yield of 1.81%.

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About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.

Analyst Recommendations for Glencore (LON:GLEN)

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