Glencore (GLEN): New Buy Recommendation for This Basic Materials Giant
In a report released today, Ben Davis from RBC Capital maintained a Buy rating on Glencore, with a price target of p540.00.
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According to TipRanks, Davis is a 5-star analyst with an average return of 33.5% and a 76.32% success rate. Davis covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Glencore, and Sibanye Stillwater.
In addition to RBC Capital, Glencore also received a Buy from Barclays’s Ian Rossouw CFA in a report issued today. However, yesterday, Goldman Sachs 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:
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