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Glencore (GLEN) Gets a Buy from Citi

Tipranks - Tipranks - Sat Feb 28, 2:28AM CST

Citi analyst Ephrem Ravi maintained a Buy rating on Glencore today and set a price target of £6.20.

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Ravi covers the Basic Materials sector, focusing on stocks such as BHP Group Ltd, Glencore, and Rio Tinto Limited. According to TipRanks, Ravi has an average return of 17.3% and a 66.20% success rate on recommended stocks.

In addition to Citi, Glencore also received a Buy from Barclays’s Ian Rossouw CFA in a report issued on February 24. However, on February 20, J.P. Morgan maintained a Hold rating on Glencore (LSE: GLEN).

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Based on Glencore’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of p130.73 billion and a net profit of p1.02 billion. In comparison, last year the company earned a revenue of p113.85 billion and had a GAAP net loss of p1.4 billion

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