Glencore PLC (GLEN) Downgraded to “Underweight” at Morgan Stanley

Morgan Stanley downgraded shares of Glencore PLC (LON:GLEN) to an underweight rating in a research note issued to investors on Monday morning. Morgan Stanley currently has GBX 230 ($2.86) target price on the natural resources company’s stock, down from their previous target price of GBX 280 ($3.49).

A number of other equities analysts have also weighed in on the stock. Haitong Bank reiterated a sell rating and issued a GBX 240 ($2.99) price objective on shares of Glencore PLC in a research report on Friday. Sanford C. Bernstein reissued an outperform rating and issued a GBX 460 ($5.73) target price on shares of Glencore PLC in a report on Thursday. Barclays PLC reissued an overweight rating and issued a GBX 390 ($4.86) target price on shares of Glencore PLC in a report on Tuesday, February 7th. Macquarie raised their target price on Glencore PLC from GBX 300 ($3.74) to GBX 340 ($4.24) and gave the company a neutral rating in a report on Monday, February 6th. Finally, Citigroup Inc. set a GBX 330 ($4.11) target price on Glencore PLC and gave the company a buy rating in a report on Friday, February 3rd. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Glencore PLC currently has a consensus rating of Hold and a consensus price target of GBX 301.28 ($3.75).

Shares of Glencore PLC (LON:GLEN) opened at 328.65 on Monday. The company’s market cap is GBX 46.76 billion. The stock has a 50 day moving average of GBX 304.81 and a 200 day moving average of GBX 247.19. Glencore PLC has a 12-month low of GBX 87.98 and a 12-month high of GBX 334.46.

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In other Glencore PLC news, insider William Macaulay sold 1,500,000 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of GBX 260 ($3.24), for a total value of £3,900,000 ($4,857,997.01).

About Glencore PLC

Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.

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