Shares of Glencore PLC (LON:GLEN) have earned an average rating of “Buy” from the sixteen research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is GBX 230.56 ($2.93).
Several equities research analysts have recently commented on GLEN shares. Citigroup restated a “buy” rating on shares of Glencore in a research note on Tuesday, May 5th. Jefferies Financial Group increased their price objective on Glencore from GBX 150 ($1.91) to GBX 180 ($2.29) and gave the stock a “hold” rating in a research report on Friday, June 19th. JPMorgan Chase & Co. reiterated an “underweight” rating on shares of Glencore in a research report on Monday. Morgan Stanley cut their price objective on Glencore from GBX 230 ($2.93) to GBX 220 ($2.80) and set an “overweight” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada increased their price objective on Glencore from GBX 180 ($2.29) to GBX 190 ($2.42) and gave the stock a “sector performer” rating in a research report on Thursday, June 18th.
In related news, insider Peter Coates acquired 80,000 shares of Glencore stock in a transaction that occurred on Monday, April 6th. The stock was acquired at an average price of GBX 127 ($1.62) per share, for a total transaction of £101,600 ($129,311.44).
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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