Glencore (LON:GLEN) had its target price decreased by HSBC from GBX 450 ($5.88) to GBX 410 ($5.36) in a report released on Monday, February 4th. The firm presently has a “buy” rating on the natural resources company’s stock. HSBC’s price target points to a potential upside of 36.48% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. Credit Suisse Group reaffirmed an “outperform” rating and issued a GBX 480 ($6.27) price objective on shares of Glencore in a research note on Monday, October 29th. Jefferies Financial Group reduced their price objective on shares of Glencore from GBX 440 ($5.75) to GBX 400 ($5.23) and set a “buy” rating on the stock in a research note on Tuesday, December 4th. Goldman Sachs Group set a GBX 400 ($5.23) price objective on shares of Glencore and gave the company a “buy” rating in a research note on Friday, October 26th. JPMorgan Chase & Co. set a GBX 340 ($4.44) price objective on shares of Glencore and gave the company a “neutral” rating in a research note on Tuesday, November 6th. Finally, Liberum Capital reaffirmed a “hold” rating on shares of Glencore in a research note on Wednesday, November 7th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of GBX 365.36 ($4.77).
Shares of Glencore stock opened at GBX 300.40 ($3.93) on Monday. Glencore has a fifty-two week low of GBX 270 ($3.53) and a fifty-two week high of GBX 416.91 ($5.45).
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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