JPMorgan Chase & Co. cut shares of Glencore (LON:GLEN) to an underweight rating in a research report report published on Thursday, Borsen Zeitung reports. The brokerage currently has GBX 260 ($3.40) price objective on the natural resources company’s stock, down from their prior price objective of GBX 330 ($4.31).
GLEN has been the subject of a number of other reports. Liberum Capital reissued a hold rating on shares of Glencore in a report on Wednesday, July 3rd. Barclays dropped their target price on Glencore from GBX 340 ($4.44) to GBX 330 ($4.31) and set an overweight rating for the company in a report on Tuesday, August 13th. Royal Bank of Canada reaffirmed a sector performer rating on shares of Glencore in a report on Thursday, August 8th. Credit Suisse Group set a GBX 390 ($5.10) price target on Glencore and gave the company a buy rating in a report on Monday, August 5th. Finally, Morgan Stanley set a GBX 320 ($4.18) price target on Glencore and gave the company a buy rating in a report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of GBX 299.31 ($3.91).
Shares of GLEN opened at GBX 224.40 ($2.93) on Thursday. Glencore has a 1 year low of GBX 188.51 ($2.46) and a 1 year high of GBX 343.60 ($4.49). The company has a current ratio of 1.05, a quick ratio of 0.39 and a debt-to-equity ratio of 86.29. The stock has a 50 day simple moving average of GBX 259.81 and a 200-day simple moving average of GBX 287.92. The stock has a market cap of $30.50 billion and a PE ratio of 36.19.
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. 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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