Deutsche Bank sets GBp 630.00 target for Glencore stock

Published on 10/05/2026 at 16:56 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Glencore stock costs EUR 6.70 on October 5, 2026 after EUR 6.67, plus 0.45 percent. First-half adjusted EBITDA rose 86 percent to USD 10.10 billion.

Extreme Nahaufnahme von glänzendem Kupfererz mit grünen Mineraladern und Kristallen — Makroaufnahme von rohem Kupfererz zeigt den Rohstoff im Kerngeschäft von Glencore plc, ISIN JE00B4T3BW64, Illustration mit AI erstellt.

Deutsche Bank issued a GBp 630.00 target for Glencore stock on October 5, 2026, while reiterating its Buy rating, according to Ground News. Glencore stock was trading at EUR 6.70 at Lang & Schwarz on October 5, 2026 at 4:42 p.m. CEST, up 0.45 percent from the EUR 6.67 prior close.

Trading outlook moves above USD 5 billion

Glencore raised its full-year 2026 marketing adjusted EBIT outlook to more than USD 5.00 billion on October 2, 2026. The company also set out a new long-term guidance framework with a midpoint of USD 3.50 billion and a range of USD 2.80 billion to USD 4.20 billion, according to Glencore.

The updated outlook follows a strong first half. ABC Money reported that adjusted EBITDA rose 86 percent to USD 10.10 billion in the first half of 2026, while revenue increased 49 percent year over year to USD 174.43 billion.

Cash generation supports shareholder returns

Glencore's first-half net income attributable to equity holders reached USD 4.40 billion, compared with a loss in the prior-year period. Funds from operations rose 158 percent year over year to USD 8.10 billion, while net debt fell 9 percent to USD 10.20 billion at June 30, 2026, according to ABC Money.

The company announced a USD 1.00 billion special cash distribution and a USD 500.00 million share buyback alongside its first-half results. A separate October 2 filing said Glencore purchased 3,480,000 shares from UBS for cancellation as part of the existing buyback program, which is expected to run through February 2027, according to Sharenet.

ASX listing adds a dated catalyst

Glencore expects its first Australian Securities Exchange trading day for CHESS Depositary Interests on October 14, 2026. Each CDI will represent one Glencore ordinary share, according to Glencore. The listing gives the updated trading outlook a second market milestone, while copper prices and second-half marketing conditions remain the key earnings variables.

Glencore stock holds above prior close

At Lang & Schwarz, Glencore stock stood at EUR 6.70 on October 5, 2026 at 4:42 p.m. CEST, with a plus 0.45 percent daily change versus the EUR 6.67 prior close dated October 2, 2026. The primary listing is on the London Stock Exchange under ticker GLEN.

The further course of trading is shown by the continuously updated real-time quote of Glencore stock.