JPMorgan Chase & Co. Reiterates GBX 340 Price Target for Glencore (GLEN)

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Glencore (LON:GLEN) has been assigned a GBX 340 ($4.44) price target by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Tuesday. The firm presently has a “neutral” rating on the natural resources company’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 9.01% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Liberum Capital raised shares of Glencore to a “hold” rating and set a GBX 300 ($3.92) price objective for the company in a research note on Friday, August 17th. Credit Suisse Group reissued an “outperform” rating and set a GBX 480 ($6.27) price objective on shares of Glencore in a research note on Thursday, August 16th. Goldman Sachs Group set a GBX 500 ($6.53) price objective on shares of Glencore and gave the company a “buy” rating in a research note on Thursday, August 2nd. Royal Bank of Canada reissued an “outperform” rating on shares of Glencore in a research note on Tuesday, July 31st. Finally, Deutsche Bank reissued a “buy” rating and set a GBX 450 ($5.88) price objective on shares of Glencore in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Glencore has a consensus rating of “Buy” and an average target price of GBX 393.57 ($5.14).

Shares of LON GLEN traded down GBX 9.25 ($0.12) during trading on Tuesday, hitting GBX 311.90 ($4.08). 31,899,963 shares of the company traded hands, compared to its average volume of 46,120,000. Glencore has a 1 year low of GBX 270 ($3.53) and a 1 year high of GBX 416.91 ($5.45).

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.

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