Glencore (LON:GLEN) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Glencore (LON:GLEN) to an overweight rating in a report issued on Tuesday, MarketBeat Ratings reports. Morgan Stanley currently has GBX 470 ($5.93) price objective on the natural resources company’s stock.

Separately, Citigroup reiterated a “top pick” rating on shares of Glencore in a research note on Thursday, December 12th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Glencore has an average rating of “Buy” and an average price target of GBX 507 ($6.40).

Glencore Stock Down 5.2 %

Shares of LON GLEN traded down GBX 18.35 ($0.23) during mid-day trading on Tuesday, reaching GBX 335.20 ($4.23). 289,616,281 shares of the company’s stock traded hands, compared to its average volume of 45,365,414. The stock has a market cap of £51.13 billion, a P/E ratio of -93.88, a PEG ratio of 0.43 and a beta of 1.21. The business has a 50-day simple moving average of GBX 360.47 and a 200 day simple moving average of GBX 387.34. Glencore has a 1-year low of GBX 325 ($4.10) and a 1-year high of GBX 506.72 ($6.39). The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32.

Glencore Company Profile

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.