JPMorgan Chase & Co. raises Glencore (OTCMKTS:GLNCY) price target to GBX 640

Glencore (OTCMKTS:GLNCY – Get a rating) had its target price raised by JPMorgan Chase & Co. from GBX 590 ($7.13) to GBX 640 ($7.73) in a research report released Thursday to clients and investors, reports The Fly.

A number of other brokerages have also recently commented on GLNCY. Deutsche Bank Aktiengesellschaft lowered its price target on Glencore from GBX 580 ($7.01) to GBX 560 ($6.77) in a Wednesday, June 29 research note. Barclays raised its price target on Glencore from GBX 730 ($8.82) to GBX 770 ($9.30) in a Wednesday May 25 research note. Morgan Stanley lowered its price target on Glencore from GBX 740 ($8.94) to GBX 730 ($8.82) in a Tuesday, August 2 research note. Finally, Credit Suisse Group raised Glencore from a “neutral” rating to an “outperforming” rating in a report on Wednesday July 6th. Seven analysts rated the stock with a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $660.00.

Glencore shares down 0.9%

Shares of Glencore traded down $0.09 on Thursday, hitting $10.82. The stock recorded trading volume of 558,301 shares, compared to an average trading volume of 505,700. Glencore has a 12-month low of $8.77 and a 12-month high of $14.00. The company’s 50-day moving average is $11.02 and its two-hundred-day moving average is $11.85. The company has a debt ratio of 0.75, a current ratio of 1.17 and a quick ratio of 0.59.

Glencore Company Profile

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Glencore plc produces, refines, processes, stores, transports and markets metals and minerals, as well as energy products in the Americas, Europe, Asia, Africa and Oceania. It operates through two segments, Marketing Activities and Industrial Activities. The company produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin and iron ore .

Further reading

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Analyst recommendations for Glencore (OTCMKTS: GLNCY)

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