RBC Capital Markets: Time To Buy Glencore (LON:GLEN)? Has GBX 100 Valuation Target


Why Has RBC Capital Markets Given Glencore (LON:GLEN) a GBX 100 Price Target

Research analysts at RBC Capital Markets gave a key “Sector Perform” rating for Glencore (LON:GLEN). The firm have initiated coverage in recent note released on 3 December. The TP provides upside of 6.97% from the closing share price.

From a total of 23 analysts covering Glencore PLC (LON:GLEN) stock, 17 rate it a ”Buy”, 4 a “Sell”, and 7 a ”Hold”. This means that 61% of the ratings are positive. The highest target price is GBX 3.32 while the lowest target price is GBX 1.16. The mean of all analyst targets is GBX 2.3 with a 91.24% above today’s (GBX 93.87) stock price. Glencore PLC was the topic of 157 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. Morgan Stanley maintained shares on December 1 with “Equalwt/Attractive” rating. Goldman Sachs maintained shares with “Neutral” rating and GBX 100 target share price in a report from a November 25. Credit Suisse maintained GLEN stock in a recent report from November 30 with “Outperform” rating. Bank of America maintained the rating on November 25. Bank of America has a “Neutral” rating and a GBX 110 price target on shares. Finally, Macquarie Research maintained the stock with “Outperform” rating in a report issued on a November 30.

Approximately 15.33 million shares of stock traded hands. Glencore PLC (LON:GLEN) has declined 69.88% since May 6, 2015 and is downtrending. It has underperformed by 69.59% the S&P500.

RBC Capital Markets: Time To Buy Glencore (LON:GLEN)? Has GBX 100 Valuation Target

Glencore plc, formerly Glencore Xstrata Plc, is a Switzerland natural resource company. The company has a market cap of 13.63 billion GBP. The Firm operates in three divisions: Metals and Minerals, which includes copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore; Energy Products, which includes controlled and non-controlled coal mining and oil production activities and investments in strategic handling, storage and freight equipment and facilities, and Agricultural Products, which focuses on grains, oils/oilseeds, cotton and sugar. It currently has negative earnings. The Company’s operates in Americas, Asia Europe, Africa and Oceania.