Citi lifts Glencore and Fresnillo price targets ahead of Q1 mining results season

Citi has raised its price targets for Glencore and Fresnillo heading into the first-quarter production reporting season, while warning that copper recovery and iron ore shipment volumes are likely to disappoint in the near term. The Wall Street bank lifted its target price for Glencore PLC (LSE:GLEN) to £6.70 and for Fresnillo PLC (LSE:FRES), the silver and gold miner, to £50, retaining buy ratings on both stocks.