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Glencore (GLEN) Receives a Hold from Goldman Sachs

Tipranks - Tipranks - Fri Jan 16, 11:12PM CST

Goldman Sachs analyst Matt Greene maintained a Hold rating on Glencore yesterday and set a price target of p460.00. The company’s shares closed yesterday at p491.00.

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According to TipRanks, Greene is a 4-star analyst with an average return of 10.1% and a 53.46% success rate. Greene covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Lundin Mining, and Antofagasta.

Currently, the analyst consensus on Glencore is a Moderate Buy with an average price target of p450.00, representing a -8.35% downside. In a report released today, TipRanks – OpenAI also reiterated a Hold rating on the stock with a p535.00 price target.

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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

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