UBS sets AUD 13.40 target for Glencore stock
Published on 10/18/2026 at 12:50 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSAnalyst view and company outlook
- UBS set an AUD 13.40 target for Glencore's Australian listing on October 15, 2026.
- Glencore expected 2026 Marketing Adjusted EBIT to exceed USD 5 billion on October 2, 2026.
- Glencore had a GBP 68.4 billion market capitalization as of October 16, 2026.
Glencore (ISIN JE00B4T3BW64) received a new AUD 13.40 price target from UBS for its Australian listing on October 15, 2026. Investing.com reported that UBS initiated coverage with a Buy rating, citing Glencore's marketing performance and commodity exposure.
Marketing earnings reset the frame
The company had raised its full-year 2026 Marketing Adjusted EBIT outlook to more than USD 5 billion on October 2, 2026. In the same release, Glencore put the long-term guidance midpoint at USD 3.5 billion, within a USD 2.8 billion to USD 4.2 billion range, using June 30, 2026 inventory and funding assumptions.
What does the target reflect?
UBS linked its assessment to the copper growth pipeline, asset disposals and the prospect of higher cash returns in the second half of 2026 and 2027. The note also identified commodity prices, project approvals and marketing execution as risks, keeping the target tied to operating delivery rather than to the Australian listing alone.
Three dated steps explain the story
On October 2, 2026, Glencore disclosed the updated Marketing Adjusted EBIT methodology and the outlook above. On October 14, 2026, its Australian Securities Exchange secondary listing began trading, with each CHESS Depositary Interest representing one ordinary share, according to Glencore. On October 15, 2026, UBS initiated coverage and set the AUD 13.40 target, as Investing.com reported.
London valuation remains the reference
Glencore's London-listed shares were last quoted at GBp 583.10 on October 16, 2026, according to the finance data record, while the same record put the one-year range at GBp 332.20 to GBp 707.20. MarketBeat reported a six-analyst consensus target of GBp 660 on October 12, 2026, with five Buy ratings and one Hold rating, alongside a reported market capitalization of GBP 68.55 billion. The differing targets show that the key investor question is how quickly copper growth and marketing earnings convert into cash returns.
Market value and upcoming context
The company's Australian access, marketing outlook and copper pipeline now form the main valuation context for Glencore. The latest disclosed guidance applies from 2027 for the long-term methodology, while the full-year 2026 Marketing Adjusted EBIT outlook remains above USD 5 billion. The further course of trading is shown by the continuously updated real-time quote of Glencore stock.
Glencore stock key data
- Company: Glencore plc
- ISIN: JE00B4T3BW64
- Ticker: GLEN
- Primary exchange: LSE
- Market capitalization: GBP 68.4 billion (as of October 16, 2026)
- 52-week range: GBp 332.20-707.20 (as of October 16, 2026)
Market context: Market report FTSE 100.
