Berenberg Bank Has Lowered Expectations for Glencore (LON:GLEN) Stock Price

Glencore (LON:GLEN) had its price target cut by stock analysts at Berenberg Bank from GBX 380 ($5.19) to GBX 330 ($4.50) in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the natural resources company’s stock. Berenberg Bank’s price objective would suggest a potential upside of 7.88% from the stock’s previous close.

Separately, Royal Bank Of Canada lowered their target price on Glencore from GBX 380 ($5.19) to GBX 360 ($4.91) and set an “outperform” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of GBX 410 ($5.60).

Glencore Stock Performance

Shares of Glencore stock opened at GBX 305.90 ($4.17) on Thursday. The business has a 50-day moving average of GBX 276.15 and a 200 day moving average of GBX 306.24. Glencore has a 12 month low of GBX 205 ($2.80) and a 12 month high of GBX 496.12 ($6.77). The stock has a market capitalization of £46.66 billion, a price-to-earnings ratio of -85.67, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32.

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.