Goldman Sachs Group Reiterates GBX 240 Price Target for Glencore (LON:GLEN)

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Goldman Sachs Group set a GBX 240 ($3.14) price objective on Glencore (LON:GLEN) in a research note published on Friday, Borsen Zeitung reports. The brokerage currently has a sell rating on the natural resources company’s stock.

Several other analysts also recently commented on GLEN. Barclays reaffirmed an underweight rating on shares of in a research note on Thursday, July 4th. Deutsche Bank raised their price objective on Facebook from $220.00 to $230.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. Credit Suisse Group set a $180.00 price objective on Accenture and gave the stock a hold rating in a research note on Friday, June 28th. Liberum Capital reaffirmed a buy rating and set a GBX 810 ($10.58) price objective on shares of in a research note on Wednesday, July 3rd. Finally, UBS Group set a $13.00 price objective on Freeport-McMoRan and gave the stock a hold rating in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of GBX 334.94 ($4.38).

Shares of Glencore stock opened at GBX 272.25 ($3.56) on Friday. The firm has a market cap of $37.17 billion and a P/E ratio of 11.34. Glencore has a 12 month low of GBX 249.75 ($3.26) and a 12 month high of GBX 343.60 ($4.49). The company has a debt-to-equity ratio of 77.26, a current ratio of 1.10 and a quick ratio of 0.38. The business’s fifty day simple moving average is GBX 269.70.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. 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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