Jefferies reiterates its buy recommendation on the stock, leaving its target price unchanged at 380 pence.

Jefferies believes that Glencore has been under pressure over the past year due to weak coal prices, operational issues, the normalization of its marketing EBIT, and declining liquidity in its stock.

"Although its share price has recovered after hitting an all-time low, its enterprise value reached a historic low in April and, in our view, the stock remains undervalued," the broker says.

"We expect the sector to be volatile in the short term, but we see the potential for a significant rebound in the stock, which is one of our top picks in the global mining sector," Jefferies adds.


Copyright (c) 2025 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are provided solely as a decision-making aid for investors. Cercle Finance cannot be held liable, directly or indirectly, for the use of such information and analyses by its readers. Anyone who is not an expert in the field should consult a professional advisor before investing. This information is provided for informational purposes only and does not constitute an offer to sell or a solicitation to buy.