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Barclays Issues a Buy Rating on Glencore (GLEN)

Tipranks - Tipranks - Wed Apr 22, 12:58AM CDT

In a report released yesterday, Ian Rossouw CFA from Barclays assigned a Buy rating to Glencore. The company’s shares closed yesterday at p549.70.

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Rossouw CFA covers the Basic Materials sector, focusing on stocks such as South32, Glencore, and Antofagasta. According to TipRanks, Rossouw CFA has an average return of 14.8% and a 59.09% success rate on recommended stocks.

In addition to Barclays, Glencore also received a Buy from HSBC’s Shilan Modi in a report issued on April 14. However, on April 10, Goldman Sachs 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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