Glencore (GLEN) Gets a Hold from UBS
UBS analyst Myles Allsop maintained a Hold rating on Glencore today and set a price target of p485.00.
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Allsop covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Southern Copper, and Anglo American. According to TipRanks, Allsop has an average return of 23.9% and a 71.70% success rate on recommended stocks.
In addition to UBS, Glencore also received a Hold from TipRanks – xAI’s xAi Materials GB in a report issued on February 4. However, on the same day, Barclays maintained a Buy rating on Glencore (LSE: GLEN).
Based on Glencore’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of p117.4 billion and a GAAP net loss of p655 million. In comparison, last year the company earned a revenue of p117.09 billion and had a GAAP net loss of p233 million
Read More on GB:GLEN:
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- Glencore says Rio Tinto potential offer ‘significantly undervalued’ contribution
- Glencore Rejects Undervalued Rio Tinto Approach, Backs Standalone Growth Strategy
- Rio Tinto no longer considering possible merger or combination with Glencore
- Rio Tinto, Glencore decide to end merger talks, Bloomberg reports
- Glencore-Rio Tinto merger ‘hangs in the balance’ as deadline looms, FT says
