Glencore (LON:GLEN) Now Covered by Berenberg Bank

Berenberg Bank began coverage on shares of Glencore (LON:GLEN) in a research report report published on Monday morning,Digital Look reports. The firm issued a buy rating and a GBX 380 ($4.92) target price on the natural resources company’s stock.

A number of other analysts have also recently weighed in on GLEN. Royal Bank of Canada decreased their target price on shares of Glencore from GBX 480 ($6.21) to GBX 440 ($5.70) and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 480 ($6.21) price objective on shares of Glencore in a report on Thursday, February 20th. Morgan Stanley raised Glencore to an “overweight” rating and set a GBX 470 ($6.08) target price for the company in a report on Tuesday, February 18th. Finally, Citigroup reissued a “top pick” rating on shares of Glencore in a research note on Thursday, December 12th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 476.43 ($6.17).

Glencore Price Performance

Shares of GLEN traded down GBX 2.80 ($0.04) during mid-day trading on Monday, reaching GBX 310.85 ($4.02). The company had a trading volume of 639,577,563 shares, compared to its average volume of 54,554,207. The company has a market capitalization of £47.42 billion, a price-to-earnings ratio of -87.06, a P/E/G ratio of 0.43 and a beta of 1.21. 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 company’s 50 day simple moving average is GBX 348.11 and its 200 day simple moving average is GBX 376.94. Glencore has a 1-year low of GBX 309.15 ($4.00) and a 1-year high of GBX 506.72 ($6.56).

About Glencore

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.