Glencore’s (GLEN) Buy Rating Reiterated at Bank of America

Bank of America reissued their buy rating on shares of Glencore (LON:GLEN) in a research report released on Wednesday, Marketbeat reports. Bank of America currently has a GBX 500 ($6.34) target price on the natural resources company’s stock.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group restated a buy rating and set a GBX 550 ($6.98) target price on shares of Glencore in a research report on Wednesday, May 1st. Barclays reiterated an equal weight rating and issued a GBX 515 ($6.53) price objective on shares of Glencore in a research report on Wednesday, May 1st. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of GBX 531.25 ($6.74).

Glencore Stock Performance

LON:GLEN opened at GBX 451.10 ($5.72) on Wednesday. The firm’s fifty day moving average price is GBX 471.01 and its 200 day moving average price is GBX 444.05. Glencore has a 1-year low of GBX 365.31 ($4.63) and a 1-year high of GBX 506.72 ($6.43). The company has a debt-to-equity ratio of 85.91, a current ratio of 1.29 and a quick ratio of 0.32. The firm has a market cap of £54.81 billion, a price-to-earnings ratio of 1,670.74, a price-to-earnings-growth ratio of 0.43 and a beta of 1.29.

Insider Buying and Selling at Glencore

In other news, insider Martin J. Gilbert acquired 10,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was bought at an average price of GBX 486 ($6.17) per share, with a total value of £48,600 ($61,651.66). 10.35% of the stock is owned by corporate insiders.

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.