Deutsche Bank Issued Buy Rating for Glencore
The bank set a 680p price target for the mining giant as it prepares for an Australian listing.
Updated on Oct. 13, 2026 in Stock Picks
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Deutsche Bank issued a buy rating and a 680p price target for Glencore, representing a 16.3% premium over Monday's closing price of 584.6p. This forecast comes as the company prepares for its debut on the Australian Securities Exchange.
Why it matters
Analysts anticipate that growth in copper production volumes over the next 12 to 18 months will drive company performance. Management also expects asset disposals to bolster returns to shareholders.
Glencore has established long-term production targets to reach 1.1 million tonnes of copper by 2029 and 1.6 million tonnes by 2035. Deutsche Bank recently updated its valuation of the firm's Marketing division to support these goals.
The players
Deutsche Bank
This is a German multinational investment bank and financial services company.
Glencore
This is a global mining and commodities trading company based in Switzerland.
The details
Glencore is utilizing a portfolio of copper projects to expand group output and improve its market position. The company's upcoming listing on the Australian Securities Exchange marks a major expansion of its market access.
Timeline
December 2025: Glencore announced its copper production targets.
October 12, 2026: Glencore shares closed at 584.6p.
October 14, 2026: Glencore plans its first day of trading on the Australian Securities Exchange.
Market Dynamics
Glencore's focus on asset disposals aligns with the broader commodity industry trend of shedding non-core assets to maximize shareholder returns. This strategy mirrors historical shifts among major miners seeking to optimize capital allocation during market cycles.
Investors should monitor the company's progress on copper production targets as a key indicator for potential long-term value. Market participants should also note that the Radiant World legal situation remains a persistent risk factor for share performance.
The takeaway
The move reflects confidence in Glencore's ability to scale its copper production through 2035. Investors are encouraged to weigh the projected growth against the ongoing legal risks that currently shadow the company's valuation.
What happens next
Glencore is expected to begin trading on the Australian Securities Exchange on October 14, 2026.
Further reading
For more market analysis on mining sector opportunities, visit our Stock Picks section.
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