Glencore (LON:GLEN) Upgraded to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of Glencore (LON:GLEN) to an overweight rating in a research report released on Tuesday, MarketBeat.com reports. They currently have GBX 470 ($5.93) price target on the natural resources company’s stock.

Separately, Citigroup restated a “top pick” rating on shares of Glencore in a research report on Thursday, December 12th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of GBX 507 ($6.40).

Glencore Price Performance

GLEN traded down GBX 18.35 ($0.23) on Tuesday, reaching GBX 335.20 ($4.23). The company had a trading volume of 289,616,281 shares, compared to its average volume of 45,365,414. The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30. Glencore has a 52-week low of GBX 325 ($4.10) and a 52-week high of GBX 506.72 ($6.39). The company has a market cap of £51.13 billion, a price-to-earnings ratio of -93.88, a P/E/G ratio of 0.43 and a beta of 1.21. The business has a 50 day simple moving average of GBX 360.47 and a 200 day simple moving average of GBX 387.34.

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.