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

Shares of Glencore plc (LON:GLEN) have been assigned an average recommendation of “Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. 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. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is GBX 476.43 ($6.15).

GLEN has been the topic of a number of recent analyst reports. Berenberg Bank initiated coverage on shares of Glencore in a report on Monday, March 10th. They set a “buy” rating and a GBX 380 ($4.91) price target on the stock. Royal Bank of Canada cut their price target on shares of Glencore from GBX 480 ($6.20) to GBX 440 ($5.68) and set an “outperform” rating on the stock in a report on Thursday, February 20th. Citigroup reiterated a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 480 ($6.20) price target on shares of Glencore in a report on Thursday, February 20th. Finally, Morgan Stanley upgraded shares of Glencore to an “overweight” rating and set a GBX 470 ($6.07) price target on the stock in a report on Tuesday, February 18th.

Glencore Trading Down 3.5 %

LON:GLEN opened at GBX 299.20 ($3.86) on Friday. Glencore has a one year low of GBX 298.40 ($3.85) and a one year high of GBX 506.72 ($6.54). The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The company’s 50-day simple moving average is GBX 340.42 and its 200 day simple moving average is GBX 371.99. The firm has a market capitalization of £45.64 billion, a P/E ratio of -83.79, a PEG ratio of 0.43 and a beta of 1.21.

Glencore Cuts Dividend

The business also recently announced 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. The ex-dividend date is Thursday, August 28th. This represents a yield of 1.21%. Glencore’s payout ratio is -280.06%.

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.