The stock of Glencore PLC (LON:GLEN) hit a new 52-week high and has GBX 476.72 target or 67.00% above today’s GBX 285.46 share price. The 6 months bullish chart indicates low risk for the GBX 41.16B company. The 1-year high was reported on Nov, 10 by Barchart.com. If the GBX 476.72 price target is reached, the company will be worth GBX 27.58 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 5.63% or GBX 15.21 on November 10, hitting GBX 285.46. About 134.13 million shares traded hands or 136.52% up from the average. Glencore PLC (LON:GLEN) has risen 81.93% since April 12, 2016 and is uptrending. It has outperformed by 76.28% the S&P500.
Glencore PLC (LON:GLEN) Ratings Coverage
Out of 28 analysts covering Glencore PLC (LON:GLEN), 14 rate it a “Buy”, 2 “Sell”, while 12 “Hold”. This means 50% are positive. GBX 450 is the highest target while GBX 63.80 is the lowest. The GBX 192.50 average target is -32.56% below today’s (GBX 285.46) stock price. Glencore PLC has been the topic of 299 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Canaccord Genuity maintained the shares of GLEN in a report on Wednesday, November 4 with “Speculative Buy” rating. The firm has “Neutral” rating by JP Morgan given on Thursday, August 25. The company was maintained on Friday, October 23 by Deutsche Bank. The firm has “Buy” rating given on Tuesday, August 2 by Societe Generale. On Wednesday, March 16 the stock rating was maintained by BNP Paribas with “Outperform”. Jefferies maintained it with “Hold” rating and GBX 170 target price in Wednesday, September 2 report. The stock of Glencore PLC (LON:GLEN) earned “Buy” rating by Citigroup on Friday, April 8. The firm earned “Outperform” rating on Wednesday, December 16 by Bernstein. The rating was downgraded by Societe Generale to “Hold” on Wednesday, February 10. The company was upgraded on Tuesday, December 15 by JP Morgan.
Another recent and important Glencore PLC (LON:GLEN) news was published by Bloomberg.com which published an article titled: “Glencore Sells Coal Rail Unit for $873 Million to Cut Debt” on October 20, 2016.
Glencore plc is a Hong Kong-based investment holding company. The company has a market cap of 41.16 billion GBP. The Firm is engaged in the sourcing, marketing, hedging and logistics businesses of metals and minerals, energy products and agriculture products, as well as the investment in related industries. It currently has negative earnings. The Firm operates through three divisions.
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