Glencore (LON:GLEN) Reaches New 52-Week High – Time to Buy?

by · The Cerbat Gem

Glencore plc (LON:GLEN – Get Free Report) shares reached a new 52-week high during trading on Friday . The company traded as high as GBX 392.25 and last traded at GBX 391.78, with a volume of 1551473250 shares traded. The stock had previously closed at GBX 386.80.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GLEN shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 320 price objective on shares of Glencore in a report on Wednesday, December 3rd. Berenberg Bank restated a “hold” rating and set a GBX 350 price target on shares of Glencore in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Glencore from GBX 400 to GBX 450 and gave the stock a “neutral” rating in a research note on Wednesday, December 3rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 391.67.

Get Our Latest Stock Analysis on GLEN

Glencore Stock Up 1.5%

The firm’s 50 day moving average price is GBX 361.29 and its two-hundred day moving average price is GBX 323.63. The company has a market cap of £46.06 billion, a P/E ratio of -24.53, a price-to-earnings-growth 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.

Glencore Company Profile

(Get Free Report)

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.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.

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