Glencore PLC (GLEN) Downgraded to “Hold” at Canaccord Genuity

Canaccord Genuity downgraded shares of Glencore PLC (LON:GLEN) to a hold rating in a research report sent to investors on Tuesday. The brokerage currently has GBX 220 ($2.87) target price on the natural resources company’s stock, up from their prior target price of GBX 215 ($2.81).

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reaffirmed a neutral rating and issued a GBX 150 ($1.96) target price on shares of Glencore PLC in a report on Friday, June 10th. BNP Paribas reaffirmed an outperform rating and issued a GBX 175 ($2.28) target price on shares of Glencore PLC in a report on Monday, June 27th. Goldman Sachs Group Inc. reaffirmed a neutral rating and issued a GBX 140 ($1.83) target price (up from GBX 90 ($1.17)) on shares of Glencore PLC in a report on Tuesday, June 28th. Morgan Stanley set a GBX 138 ($1.80) target price on shares of Glencore PLC and gave the company a neutral rating in a report on Wednesday, June 29th. Finally, Haitong Bank raised shares of Glencore PLC to a buy rating and upped their target price for the company from GBX 141 ($1.84) to GBX 194 ($2.53) in a report on Thursday, June 30th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have given a buy rating to the company. Glencore PLC currently has an average rating of Hold and an average price target of GBX 172.96 ($2.26).

Glencore PLC (LON:GLEN) traded up 1.01% during trading on Tuesday, hitting GBX 210.35. The company had a trading volume of 22,173,448 shares. Glencore PLC has a 52-week low of GBX 69.26 and a 52-week high of GBX 213.40. The firm’s 50 day moving average is GBX 189.97 and its 200-day moving average is GBX 162.67. The stock’s market capitalization is GBX 29.93 billion.

Glencore PLC Company Profile

Glencore plc is an integrated producer and marketer of natural resources, with activities in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products and agricultural products. The Company’s segments include metals and minerals, energy products, agricultural products, and corporate and other.

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