The Glencore PLC (GLEN) Cut to “Underweight” at Morgan Stanley, Report finds

The Glencore PLC (GLEN) Cut to “Underweight” at Morgan Stanley, Report finds

Other equities research analysts also recently issued research reports about the stock. AlphaValue restated an add rating and issued a GBX 337 ($4.20) price target on shares of Glencore PLC in a research report on Tuesday, January 31st. Jefferies Group LLC upgraded shares of Glencore PLC to a buy rating and upped their price target for the company from GBX 210 ($2.62) to GBX 300 ($3.74) in a research report on Thursday, November 10th. HSBC Holdings plc started coverage on shares of Glencore PLC in a research report on Thursday, November 10th. They issued a buy rating and a GBX 300 ($3.74) price target for the company. Citigroup Inc. set a GBX 330 ($4.11) price target on shares of Glencore PLC and gave the company a buy rating in a research report on Monday, December 5th. Finally, RBC Capital Markets set a GBX 350 ($4.36) price target on shares of Glencore PLC and gave the company a buy rating in a research report on Monday, December 12th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. Glencore PLC has an average rating of Hold and a consensus target price of GBX 301.28 ($3.75).

Morgan Stanley downgraded shares of Glencore PLC (LON:GLEN) to an underweight rating in a report published on Monday morning. The firm currently has GBX 230 ($2.86) price objective on the natural resources company’s stock, down from their prior price objective of GBX 280 ($3.49).

Shares of Glencore PLC (LON:GLEN) opened at 328.97 on Monday. The stock has a 50 day moving average price of GBX 304.81 and a 200-day moving average price of GBX 247.19. Glencore PLC has a 52-week low of GBX 87.98 and a 52-week high of GBX 334.46. The stock’s market capitalization is GBX 46.80 billion.

In other Glencore PLC news, insider William Macaulay sold 1,500,000 shares of the stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of GBX 260 ($3.24), for a total value of £3,900,000 ($4,857,997.01).

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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