Glencore (GLEN) Price Target Increased to GBX 450 by Analysts at HSBC
Glencore (LON:GLEN) had its price objective hoisted by stock analysts at HSBC from GBX 381 ($5.07) to GBX 450 ($5.99) in a report issued on Thursday, June 21st, MarketBeat.com reports. The firm presently has a “buy” rating on the natural resources company’s stock. HSBC’s price target points to a potential upside of 24.31% from the company’s current price.
GLEN has been the topic of a number of other reports. JPMorgan Chase & Co. restated an “overweight” rating and set a GBX 570 ($7.59) target price on shares of Glencore in a research report on Wednesday, February 21st. Goldman Sachs Group lifted their price objective on Glencore from GBX 460 ($6.12) to GBX 520 ($6.92) and gave the stock a “conviction-buy” rating in a report on Wednesday, March 14th. Royal Bank of Canada lowered shares of Glencore from a “top pick” rating to an “outperform” rating and decreased their target price for the stock from GBX 460 ($6.12) to GBX 410 ($5.46) in a research note on Monday, April 30th. UBS Group reaffirmed a “neutral” rating and set a GBX 380 ($5.06) price target on shares of Glencore in a research report on Thursday, June 7th. Finally, Liberum Capital reaffirmed a “sell” rating and set a GBX 300 ($3.99) price target on shares of Glencore in a research report on Monday, April 30th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of GBX 423.90 ($5.64).
Glencore traded up GBX 3.20 ($0.04), reaching GBX 362 ($4.82), during midday trading on Thursday, MarketBeat.com reports. The stock had a trading volume of 35,813,635 shares, compared to its average volume of 46,120,000. Glencore has a 52-week low of GBX 270 ($3.59) and a 52-week high of GBX 416.91 ($5.55).
Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. 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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