Glencore (GLEN) Price Target Cut to GBX 400

Glencore (LON:GLEN) had its price objective cut by Barclays from GBX 430 ($5.79) to GBX 400 ($5.38) in a report issued on Thursday. The brokerage presently has an “overweight” rating on the natural resources company’s stock. Barclays’ price objective points to a potential upside of 10.27% from the stock’s current price.

A number of other research firms have also commented on GLEN. UBS set a GBX 380 ($5.11) price objective on shares of Glencore and gave the stock a “neutral” rating in a research note on Wednesday. Jefferies Group reaffirmed a “buy” rating and issued a GBX 450 ($6.06) price objective on shares of Glencore in a research note on Wednesday. Goldman Sachs Group reaffirmed a “conviction-buy” rating on shares of Glencore in a research note on Wednesday. Citigroup reaffirmed a “buy” rating and issued a GBX 410 ($5.52) price objective on shares of Glencore in a research note on Wednesday. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a GBX 430 ($5.79) price objective on shares of Glencore in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Glencore has an average rating of “Buy” and an average price target of GBX 396.43 ($5.34).

Glencore (LON GLEN) traded up GBX 5.40 ($0.07) during trading on Thursday, reaching GBX 362.75 ($4.88). 62,155,121 shares of the company’s stock traded hands, compared to its average volume of 36,030,000. Glencore has a 12-month low of GBX 260.50 ($3.51) and a 12-month high of GBX 388.25 ($5.23).

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About Glencore

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.

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