Royal Bank of Canada Has Lowered Expectations for Glencore (LON:GLEN) Stock Price

Glencore (LON:GLEN) had its target price cut by Royal Bank of Canada from GBX 480 ($6.06) to GBX 440 ($5.56) in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have an outperform rating on the natural resources company’s stock.

A number of other research firms also recently issued reports on GLEN. Morgan Stanley upgraded shares of Glencore to an “overweight” rating and set a GBX 470 ($5.94) target price for the company in a report on Tuesday, February 18th. Citigroup reiterated a “top pick” rating on shares of Glencore in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of GBX 492.50 ($6.22).

Glencore Price Performance

Glencore stock opened at GBX 323.85 ($4.09) on Thursday. Glencore has a 1 year low of GBX 320.50 ($4.05) and a 1 year high of GBX 506.72 ($6.40). The firm has a 50 day moving average price of GBX 357.22 and a 200 day moving average price of GBX 385.70. The company has a market cap of £49.40 billion, a price-to-earnings ratio of -90.70, a PEG ratio of 0.43 and a beta of 1.21. The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30.

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.