Glencore (LON:GLEN) has been given a GBX 500 ($6.47) price objective by equities research analysts at Goldman Sachs Group in a report released on Wednesday. The brokerage currently has a “buy” rating on the natural resources company’s stock. Goldman Sachs Group’s price target points to a potential upside of 53.28% from the stock’s current price.
A number of other brokerages have also weighed in on GLEN. Barclays decreased their price target on shares of Glencore from GBX 450 ($5.83) to GBX 400 ($5.18) and set an “overweight” rating on the stock in a research note on Wednesday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating on shares of Glencore in a research note on Tuesday, July 31st. UBS Group set a GBX 380 ($4.92) price target on shares of Glencore and gave the company a “neutral” rating in a research note on Wednesday, June 13th. Citigroup reaffirmed a “buy” rating and issued a GBX 410 ($5.31) price target (down from GBX 410 ($5.31)) on shares of Glencore in a research note on Wednesday, July 4th. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a GBX 450 ($5.83) price target on shares of Glencore in a research note on Thursday, June 14th. Two analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of GBX 417.65 ($5.41).
Shares of Glencore stock opened at GBX 326.20 ($4.22) on Wednesday. Glencore has a twelve month low of GBX 270 ($3.50) and a twelve month high of GBX 416.91 ($5.40).
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.
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