Glencore (LON:GLEN) Reaches New 12-Month Low – What’s Next?

Glencore plc (LON:GLEN)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as GBX 297 ($3.82) and last traded at GBX 298.40 ($3.84), with a volume of 580449063 shares. The stock had previously closed at GBX 304 ($3.91).

Analyst Upgrades and Downgrades

A number of analysts have commented on GLEN shares. Morgan Stanley upgraded Glencore to an “overweight” rating and set a GBX 470 ($6.05) price target for the company in a research report on Tuesday, February 18th. Berenberg Bank began coverage on shares of Glencore in a research note on Monday, March 10th. They issued a “buy” rating and a GBX 380 ($4.89) price objective for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 480 ($6.18) target price on shares of Glencore in a report on Thursday, February 20th. Citigroup reissued a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. Finally, Royal Bank of Canada cut their target price on Glencore from GBX 480 ($6.18) to GBX 440 ($5.66) and set an “outperform” rating for the company in a research report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 476.43 ($6.13).

Glencore Trading Down 1.9 %

The stock has a market cap of £45.49 billion, a P/E ratio of -83.51, 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 stock’s fifty day moving average is GBX 336.66 and its 200 day moving average is GBX 369.54.

Glencore Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, September 19th. Stockholders of record on Thursday, August 28th will be issued a $0.05 dividend. This represents a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, August 28th. Glencore’s payout ratio is presently -280.06%.

Insider Activity at Glencore

In other Glencore news, insider Liz Hewitt purchased 50,000 shares of Glencore stock in a transaction dated Friday, March 21st. The stock was acquired at an average price of GBX 302 ($3.89) per share, for a total transaction of £151,000 ($194,412.26). 10.35% of the stock is owned by company insiders.

Glencore Company Profile

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.