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RBC Capital Remains a Buy on Glencore (GLEN)

Tipranks - Tipranks - Tue Jan 20, 10:56PM CST

In a report released yesterday, Ben Davis from RBC Capital reiterated a Buy rating on Glencore, with a price target of p330.00. The company’s shares closed yesterday at p481.05.

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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 Ecora Resources.

In addition to RBC Capital, Glencore also received a Buy from TipRanks – Google’s Google Materials GB in a report issued on January 15. However, yesterday, TipRanks – OpenAI reiterated a Hold rating on Glencore (LSE: GLEN).

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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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