Glencore (LON:GLEN) Earns Equal Weight Rating from Barclays

Barclays restated their equal weight rating on shares of Glencore (LON:GLEN) in a report issued on Wednesday, Marketbeat.com reports. They currently have a GBX 515 ($6.47) target price on the natural resources company’s stock.

Glencore Stock Performance

Shares of GLEN opened at GBX 464.40 ($5.83) on Wednesday. The business’s 50 day moving average is GBX 433.19 and its two-hundred day moving average is GBX 436.46. Glencore has a 52-week low of GBX 365.31 ($4.59) and a 52-week high of GBX 491.65 ($6.18). The firm has a market cap of £56.42 billion, a price-to-earnings ratio of 1,727.78, a PEG ratio of 0.43 and a beta of 1.32. The company has a quick ratio of 0.32, a current ratio of 1.29 and a debt-to-equity ratio of 85.91.

Glencore Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 20th. Shareholders of record on Thursday, August 29th will be given a $0.07 dividend. This represents a dividend yield of 1.32%. The ex-dividend date is Thursday, August 29th. Glencore’s payout ratio is 3,703.70%.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.