Insider Buying: Glencore plc (LON:GLEN) Insider Acquires 15,000 Shares of Stock

Glencore plc (LON:GLEN) insider Martin J. Gilbert purchased 15,000 shares of Glencore stock in a transaction that occurred on Tuesday, April 1st. The shares were bought at an average price of GBX 285 ($3.68) per share, with a total value of £42,750 ($55,147.06).

Glencore Stock Performance

Shares of GLEN stock opened at GBX 238.76 ($3.08) on Friday. The company’s fifty day simple moving average is GBX 322.72 and its 200-day simple moving average is GBX 363.69. The company has a market cap of £36.42 billion, a PE ratio of -66.87, a P/E/G ratio of 0.43 and a beta of 1.21. Glencore plc has a 52 week low of GBX 230.75 ($2.98) and a 52 week high of GBX 506.72 ($6.54). The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14.

Glencore Cuts Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on GLEN. Citigroup reissued a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. Morgan Stanley upgraded Glencore to an “overweight” rating and set a GBX 470 ($6.06) price target on the stock in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 480 ($6.19) price target on shares of Glencore in a research report on Thursday, February 20th. Royal Bank of Canada decreased their price target on shares of Glencore from GBX 480 ($6.19) to GBX 440 ($5.68) and set an “outperform” rating for the company in a research note on Thursday, February 20th. Finally, Berenberg Bank began coverage on Glencore in a research report on Monday, March 10th. They set a “buy” rating and a GBX 380 ($4.90) target price on the stock. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Glencore currently has a consensus rating of “Buy” and a consensus target price of GBX 476.43 ($6.15).

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.