Glencore plc (LON:GLEN) Receives Average Recommendation of “Buy” from Brokerages

Glencore plc (LON:GLEN) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is GBX 476.43 ($6.18).

GLEN has been the topic of a number of analyst reports. Royal Bank of Canada reduced their target price on shares of Glencore from GBX 480 ($6.22) to GBX 440 ($5.71) and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Morgan Stanley upgraded shares of Glencore to an “overweight” rating and set a GBX 470 ($6.09) price objective for the company in a report on Tuesday, February 18th. Citigroup restated a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 480 ($6.22) price objective on shares of Glencore in a research report on Thursday, February 20th. Finally, Berenberg Bank initiated coverage on shares of Glencore in a research report on Monday, March 10th. They issued a “buy” rating and a GBX 380 ($4.93) price objective on the stock.

Glencore Stock Down 1.6 %

Shares of LON GLEN opened at GBX 310 ($4.02) on Friday. The company’s 50-day simple moving average is GBX 341.61 and its 200-day simple moving average is GBX 372.79. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. The firm has a market cap of £47.29 billion, a price-to-earnings ratio of -86.82, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. Glencore has a 52-week low of GBX 309.15 ($4.01) and a 52-week high of GBX 506.72 ($6.57).

Glencore Cuts Dividend

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

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.