Glencore PLC (GLEN) Given “Outperform” Rating at Macquarie

Macquarie reaffirmed their outperform rating on shares of Glencore PLC (LON:GLEN) in a research note released on Tuesday morning. Macquarie currently has a GBX 400 ($5.26) price objective on the natural resources company’s stock.

A number of other research firms also recently issued reports on GLEN. J P Morgan Chase & Co decreased their price target on shares of Glencore PLC from GBX 330 ($4.34) to GBX 310 ($4.08) and set a neutral rating on the stock in a research note on Tuesday, September 5th. Citigroup Inc. reissued a buy rating and issued a GBX 400 ($5.26) target price on shares of Glencore PLC in a research note on Monday. BNP Paribas set a GBX 440 ($5.78) target price on shares of Glencore PLC and gave the company a buy rating in a research note on Wednesday, September 6th. UBS AG set a GBX 380 ($5.00) target price on shares of Glencore PLC and gave the company a neutral rating in a research note on Tuesday. Finally, Goldman Sachs Group, Inc. (The) set a GBX 400 ($5.26) target price on shares of Glencore PLC and gave the company a buy rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of GBX 374.58 ($4.92).

Shares of Glencore PLC (LON GLEN) opened at 365.90 on Tuesday. The firm has a 50-day moving average of GBX 355.54 and a 200-day moving average of GBX 318.54. The company’s market cap is GBX 52.18 billion. Glencore PLC has a one year low of GBX 218.50 and a one year high of GBX 374.70.

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In related news, insider Martin J. Gilbert bought 50,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The stock was bought at an average cost of GBX 338 ($4.44) per share, for a total transaction of £169,000 ($222,193.01).

About Glencore PLC

Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.

Analyst Recommendations for Glencore PLC (LON:GLEN)

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