Glencore (LON:GLEN) Hits New 52-Week Low – Time to Sell?

Glencore plc (LON:GLEN) shares hit a new 52-week low on Thursday . The company traded as low as GBX 297 ($3.82) and last traded at GBX 298.40 ($3.84), with a volume of 580449063 shares. The stock had previously closed at GBX 304 ($3.91).

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GLEN. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 480 ($6.18) target price on shares of Glencore in a research report on Thursday, February 20th. Berenberg Bank initiated coverage on shares of Glencore in a research note on Monday, March 10th. They issued a “buy” rating and a GBX 380 ($4.89) target price on the stock. Morgan Stanley upgraded shares of Glencore to an “overweight” rating and set a GBX 470 ($6.05) target price for the company in a report on Tuesday, February 18th. Citigroup restated a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. Finally, Royal Bank of Canada dropped their price objective on Glencore from GBX 480 ($6.18) to GBX 440 ($5.66) and set an “outperform” rating for the company in a report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Glencore currently has a consensus rating of “Buy” and an average price target of GBX 476.43 ($6.13).

Glencore Stock Down 1.9 %

The firm has a market capitalization of £45.49 billion, a P/E ratio of -83.51, a P/E/G ratio of 0.43 and a beta of 1.21. The company has a fifty day simple moving average of GBX 336.66 and a 200 day simple moving average of GBX 369.54. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14.

Glencore Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, September 19th. Shareholders of record on Thursday, August 28th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a yield of 1.21%. Glencore’s dividend payout ratio is currently -280.06%.

Insiders Place Their Bets

In other Glencore news, insider Liz Hewitt acquired 50,000 shares of Glencore stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of GBX 302 ($3.89) per share, for a total transaction of £151,000 ($194,412.26). Corporate insiders own 10.35% of the company’s stock.

Glencore Company Profile

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.