Glencore plc (LON:GLEN) Insider Buys £151,000 in Stock

Glencore plc (LON:GLEN) insider Liz Hewitt purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average price of GBX 302 ($3.90) per share, for a total transaction of £151,000 ($194,989.67).

Glencore Price Performance

GLEN stock traded up GBX 3.70 ($0.05) during midday trading on Monday, reaching GBX 302.90 ($3.91). 39,974,199 shares of the stock were exchanged, compared to its average volume of 42,344,902. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32. The stock has a market capitalization of £46.21 billion, a PE ratio of -84.83, a P/E/G ratio of 0.43 and a beta of 1.21. Glencore plc has a 52 week low of GBX 298.40 ($3.85) and a 52 week high of GBX 506.72 ($6.54). The company has a fifty day moving average price of GBX 340.42 and a 200 day moving average price of GBX 371.73.

Glencore Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Friday, September 19th. Stockholders of record on Thursday, August 28th will be paid a $0.05 dividend. This represents a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, August 28th. Glencore’s dividend payout ratio is currently -280.06%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on GLEN shares. Royal Bank of Canada lowered their target price on Glencore from GBX 480 ($6.20) to GBX 440 ($5.68) and set an “outperform” rating on the stock in a research note on Thursday, February 20th. Citigroup reissued a “top pick” rating on shares of Glencore in a report on Thursday, December 12th. Berenberg Bank started coverage on shares of Glencore in a research report on Monday, March 10th. They set a “buy” rating and a GBX 380 ($4.91) price target on the stock. Morgan Stanley raised shares of Glencore to an “overweight” rating and set a GBX 470 ($6.07) price objective for the company in a report on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 480 ($6.20) price objective on shares of Glencore in a report on Thursday, February 20th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 476.43 ($6.15).

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.