Glencore (LON:GLEN) Earns Buy Rating from Bank of America

Bank of America reaffirmed their buy rating on shares of Glencore (LON:GLEN) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a GBX 500 ($6.34) price target on the natural resources company’s stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group reaffirmed a buy rating and issued a GBX 550 ($6.98) price objective on shares of Glencore in a research report on Wednesday, May 1st. Barclays reaffirmed an equal weight rating and issued a GBX 515 ($6.53) price objective on shares of Glencore in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of GBX 531.25 ($6.74).

Glencore Trading Down 0.4 %

GLEN opened at GBX 451.10 ($5.72) on Wednesday. The company has a debt-to-equity ratio of 85.91, a current ratio of 1.29 and a quick ratio of 0.32. Glencore has a fifty-two week low of GBX 365.31 ($4.63) and a fifty-two week high of GBX 506.72 ($6.43). The firm has a market capitalization of £54.81 billion, a PE ratio of 1,670.74, a P/E/G ratio of 0.43 and a beta of 1.29. The company’s 50-day moving average is GBX 471.01 and its 200 day moving average is GBX 444.

Insider Transactions at Glencore

In other Glencore news, insider Martin J. Gilbert acquired 10,000 shares of Glencore stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of GBX 486 ($6.17) per share, for a total transaction of £48,600 ($61,651.66). 10.35% of the stock is currently owned by company insiders.

Glencore Company Profile

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.