Trading Report: Today, Glencore PLC (GLEN) Price Target Raised to GBX 250

Today, Glencore PLC (GLEN) Price Target Raised to GBX 250

Glencore PLC (LON:GLEN) had its price objective hoisted by Canaccord Genuity from GBX 220 ($2.75) to GBX 250 ($3.12) in a research report sent to investors on Tuesday morning. The brokerage currently has a hold rating on the natural resources company’s stock.

A number of other brokerages have also issued reports on GLEN. Goldman Sachs Group Inc. set a GBX 150 ($1.87) target price on shares of Glencore PLC and gave the stock a neutral rating in a research report on Friday, August 26th. Macquarie lifted their price objective on shares of Glencore PLC from GBX 250 ($3.12) to GBX 290 ($3.62) and gave the company a neutral rating in a research report on Monday, November 14th. Liberum Capital reiterated a sell rating and issued a GBX 140 ($1.75) price objective on shares of Glencore PLC in a research report on Tuesday, September 20th. Credit Suisse Group AG lifted their price objective on shares of Glencore PLC from GBX 200 ($2.50) to GBX 210 ($2.62) and gave the company a neutral rating in a research report on Tuesday, August 9th. Finally, JPMorgan Chase & Co. reiterated a neutral rating and issued a GBX 220 ($2.75) price objective on shares of Glencore PLC in a research report on Friday, August 12th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. The company has an average rating of Hold and an average target price of GBX 209.96 ($2.62).

Shares of Glencore PLC (LON:GLEN) opened at 287.45 on Tuesday. The stock’s 50 day moving average is GBX 249.30 and its 200-day moving average is GBX 189.79. Glencore PLC has a 12-month low of GBX 69.26 and a 12-month high of GBX 292.00. The stock’s market cap is GBX 40.90 billion.

In related news, insider William Macaulay sold 1,500,000 shares of the company’s stock in a transaction on Friday, November 18th. The stock was sold at an average price of GBX 260 ($3.25), for a total transaction of £3,900,000 ($4,872,563.72).

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