New Buy Rating for Glencore (GLEN), the Basic Materials Giant
Citi analyst Ephrem Ravi reiterated a Buy rating on Glencore today and set a price target of £6.00.
Valentine's Day Sale - 70% Off
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
According to TipRanks, Ravi is a 5-star analyst with an average return of 16.1% and a 64.76% success rate. Ravi covers the Basic Materials sector, focusing on stocks such as Glencore, Stora Enso Oyj, and Sika AG.
In addition to Citi, Glencore also received a Buy from Barclays’s Ian Rossouw CFA in a report issued on February 4. However, yesterday, UBS maintained a Hold 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:
Disclaimer & DisclosureReport an Issue
- 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
