HSBC Holdings plc Reiterates “Buy” Rating for Glencore PLC (GLEN)

HSBC Holdings plc restated their buy rating on shares of Glencore PLC (LON:GLEN) in a research note published on Wednesday. HSBC Holdings plc currently has a GBX 435 ($5.37) price objective on the natural resources company’s stock.

Several other equities analysts have also issued reports on GLEN. Macquarie boosted their price objective on Glencore PLC from GBX 300 ($3.71) to GBX 340 ($4.20) and gave the company a neutral rating in a research report on Monday, February 6th. Barclays PLC reiterated an overweight rating and issued a GBX 390 ($4.82) price objective on shares of Glencore PLC in a research report on Tuesday, February 7th. JPMorgan Chase & Co. restated a neutral rating and issued a GBX 330 ($4.08) target price on shares of Glencore PLC in a research note on Tuesday, March 14th. Deutsche Bank AG restated a hold rating on shares of Glencore PLC in a research note on Tuesday, February 14th. Finally, Societe Generale set a GBX 275 ($3.40) target price on Glencore PLC and gave the company a neutral rating in a research note on Friday, December 2nd. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of GBX 344.30 ($4.25).

Shares of Glencore PLC (LON:GLEN) opened at 340.80 on Wednesday. Glencore PLC has a 52 week low of GBX 124.55 and a 52 week high of GBX 347.00. The firm’s market cap is GBX 48.57 billion. The stock has a 50 day moving average of GBX 324.31 and a 200 day moving average of GBX 273.10.

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The company also recently disclosed a dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Thursday, September 7th will be issued a GBX 0.04 ($0.00) dividend. This represents a yield of 0.84%. The ex-dividend date of this dividend is Thursday, September 7th.

Glencore PLC Company Profile

Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.

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