Glencore raises marketing outlook: analysts set GBp 660 target for Glencore stock

Published on 10/13/2026 at 02:31 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted EBIT above USD 5.00 billion is forecast for 2026. Glencore stock was EUR 6.92 on October 12, 2026, with a GBp 660 target.

Key points in brief

Glencore raised its 2026 marketing adjusted EBIT outlook to more than USD 5.00 billion on October 2, 2026.
MarketBeat reported a Moderate Buy consensus from six analysts and an average GBp 660 target on October 12, 2026.
Glencore stock was last at EUR 6.92 at Lang & Schwarz on October 12, 2026 at 11:00 p.m. CEST.
The ASX secondary listing is scheduled to begin on October 14, 2026.

Luftaufnahme eines großen Kupfertagebaus mit Baggern und Lastwagen in der Abendsonne — Glencore plc (ISIN JE00B4T3BW64) betreibt riesige Kupfertagebauten mit schweren Muldenkippern in staubiger Bergbaulandschaft, Illustration mit AI erstellt.

Glencore (ISIN JE00B4T3BW64) expects 2026 marketing adjusted EBIT to exceed USD 5.00 billion, while MarketBeat reported an average GBp 660 target from six analysts on October 12, 2026. The combination gives Glencore stock a clear earnings and valuation reference ahead of the companys Australian listing.

Guidance moves above USD 5.00 billion

In its release dated October 2, 2026, Glencore lifted its 2026 marketing adjusted EBIT expectation above USD 5.00 billion from the mathematical full-year outcome of USD 4.90 billion indicated with its first-half results. The company also reset its long-term guidance range to USD 2.80 billion to USD 4.20 billion, with a USD 3.50 billion midpoint.

The revised framework links expected marketing adjusted EBIT to readily marketable inventories and funding costs. Glencore cited USD 32.20 billion of inventories at June 30, 2026, compared with USD 25.40 billion at June 30, 2025, a 21.00 percent increase.

What does the listing add?

Mining.com.au reported on October 9, 2026 that CEO Gary Nagle saw strong investor interest ahead of the ASX debut. The report said copper could represent 50.00 percent of Glencores earnings in 2030, compared with 30.00 percent currently, if projects develop on schedule.

Three dated Glencore milestones

On August 5, 2026, Glencores first-half results showed adjusted EBITDA of USD 10.10 billion, up 86.00 percent year over year, according to ABC Money. On October 2, 2026, Glencore raised its marketing outlook above USD 5.00 billion. On October 9, 2026, the company outlined investor interest in its Australian listing, with the first trading date scheduled for October 14, 2026.

Next date is October 14

Glencore expects its CHESS Depositary Interests to begin trading on the ASX on October 14, 2026. Each CDI represents a beneficial interest in one Glencore ordinary share.

Stock price and analyst benchmark

Glencore was last at EUR 6.92 at Lang & Schwarz on October 12, 2026 at 11:00 p.m. CEST. The Xetra closing reference needed for a percentage comparison was not established, so the article uses the dated euro price without a daily change.

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