Glencore (LON:GLEN) Hits New 1-Year Low – Time to Sell?

Glencore plc (LON:GLEN)’s stock price reached a new 52-week low on Friday . The stock traded as low as GBX 305.80 ($3.97) and last traded at GBX 306.30 ($3.97), with a volume of 493486438 shares trading hands. The stock had previously closed at GBX 310 ($4.02).

Analyst Ratings Changes

A number of brokerages have issued reports on GLEN. Citigroup restated a “top pick” rating on shares of Glencore in a research report on Thursday, December 12th. Royal Bank of Canada reduced their target price on Glencore from GBX 480 ($6.22) to GBX 440 ($5.71) and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Morgan Stanley upgraded Glencore to an “overweight” rating and set a GBX 470 ($6.09) target price on the stock in a report on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 480 ($6.22) price objective on shares of Glencore in a research report on Thursday, February 20th. Finally, Berenberg Bank began coverage on Glencore in a research report on Monday, March 10th. They set a “buy” rating and a GBX 380 ($4.93) price objective for the company. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of GBX 476.43 ($6.18).

Glencore Price Performance

The company has a 50-day moving average of GBX 341.61 and a two-hundred day moving average of GBX 372.79. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The stock has a market capitalization of £46.53 billion, a PE ratio of -85.42, a P/E/G ratio of 0.43 and a beta of 1.21.

Glencore Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, September 19th. Stockholders of record on Thursday, August 28th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a dividend yield of 1.21%. Glencore’s payout ratio is currently -280.06%.

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.