Glencore (LON:GLEN) has been assigned a GBX 500 ($6.62) price target by investment analysts at Goldman Sachs Group in a note issued to investors on Wednesday. The firm currently has a “buy” rating on the natural resources company’s stock. Goldman Sachs Group’s price objective would indicate a potential upside of 58.35% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 550 ($7.28) target price on shares of Glencore in a research note on Wednesday, May 2nd. Barclays cut their target price on Glencore from GBX 450 ($5.96) to GBX 400 ($5.29) and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup restated a “buy” rating on shares of Glencore in a research note on Monday, May 7th. HSBC upped their price objective on Glencore from GBX 381 ($5.04) to GBX 450 ($5.96) and gave the stock a “buy” rating in a research note on Thursday, June 21st. Finally, UBS Group set a GBX 380 ($5.03) price objective on Glencore and gave the stock a “neutral” rating in a research note on Tuesday, June 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of GBX 421.15 ($5.57).
Get Glencore alerts:Glencore opened at GBX 315.75 ($4.18) on Wednesday, according to Marketbeat Ratings. Glencore has a 52 week low of GBX 270 ($3.57) and a 52 week high of GBX 416.91 ($5.52).
Glencore Company Profile
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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