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UBS has initiated coverage of Glencore PLC (LSE:GLEN, ASX:GLC)'s new Australian listing with a Buy rating and an A$13.40 price target, implying about 19% upside from its last traded price of A$11.23. Analyst Lachlan Shaw sees an attractive risk-reward balance, supported by strong trading performance, better-than-expected commodity prices and a copper project pipeline expected to become less risky over the next one to two years.
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JP Morgan has upgraded Glencore PLC (LSE:GLEN, ASX:GLC) to 'overweight,' with a price target of £7.30 per share, supported by expectations of copper growth and geopolitical hedging. The broker forecasts copper production to rise by more than 30% between 2026 and 2031, to about 1.1 million tonnes.
Glencore shares to start trading in Australia as miner hopes to boost valuation
Deutsche Bank rates Glencore PLC (LSE:GLEN), the FTSE 100 mining and trading company, a 'buy' with a 680p price target, 16.3% above Monday's closing price of 584.6p, citing its copper growth plans. Glencore is targeting 14 October as its first day of trading on the Australian Securities Exchange (ASX), as Deutsche Bank compares its copper assets, growth pipeline and guidance record with those of other major miners.
Glencore expects strong demand from investors seeking exposure to trend toward electrification when it lists in Australia next week, CEO Gary Nagle said on Friday, adding that a deeper local presence may yield business opportunities although it has no set buyout list.
Glencore plc (OTCMKTS:GLCNF - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $7.50 and traded as low as $7.41. Glencore shares last traded at $7.64, with a volume of 12,772 shares changing hands. Glencore Stock Up
Citi expects Glencore PLC (LSE:GLEN), the mining and commodities group, to benefit from stronger marketing earnings in 2026 after it raised guidance for the division and its long-term profit range. Glencore now expects earnings before interest and tax (EBIT) from marketing to exceed $5 billion in 2026, above its previous guidance and close to Citi's $5.4 billion forecast.