Glencore (LON:GLEN) Coverage Initiated at Berenberg Bank

Berenberg Bank assumed coverage on shares of Glencore (LON:GLEN) in a note issued to investors on Monday,Digital Look reports. The brokerage set a “buy” rating and a GBX 380 ($4.92) price target on the natural resources company’s stock. Berenberg Bank’s target price indicates a potential upside of 22.32% from the stock’s current price.

Several other analysts also recently issued reports on the company. Citigroup reissued a “top pick” rating on shares of Glencore in a research note on Thursday, December 12th. Morgan Stanley upgraded shares of Glencore to an “overweight” rating and set a GBX 470 ($6.08) price objective on the stock in a research report on Tuesday, February 18th. Royal Bank of Canada dropped their target price on shares of Glencore from GBX 480 ($6.21) to GBX 440 ($5.70) and set an “outperform” rating for the company in a research report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 480 ($6.21) price target on shares of Glencore in a report on Thursday, February 20th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Glencore presently has a consensus rating of “Buy” and a consensus price target of GBX 476.43 ($6.17).

Glencore Price Performance

Shares of GLEN stock traded down GBX 3 ($0.04) on Monday, hitting GBX 310.65 ($4.02). 639,985,063 shares of the stock traded hands, compared to its average volume of 54,562,355. 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 firm has a 50 day simple moving average of GBX 348.11 and a two-hundred day simple moving average of GBX 376.94. The firm has a market cap of £47.39 billion, a price-to-earnings ratio of -87.00, a PEG ratio of 0.43 and a beta of 1.21. Glencore has a 52 week low of GBX 309.15 ($4.00) and a 52 week high of GBX 506.72 ($6.56).

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.