Glencore plc (OTCMKTS:GLNCY – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.09 and traded as high as $11.32. Glencore shares last traded at $11.19, with a volume of 583,967 shares.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on GLNCY. Credit Suisse Group reduced their target price on shares of Glencore from GBX 525 ($6.45) to GBX 500 ($6.14) in a research note on Wednesday, August 9th. HSBC raised Glencore from a “hold” rating to a “buy” rating in a research note on Wednesday, October 11th. Finally, Morgan Stanley decreased their price target on Glencore from GBX 560 ($6.88) to GBX 550 ($6.75) in a research note on Tuesday, July 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $569.00.
Glencore Stock Performance
Glencore Increases Dividend
The business also recently announced a dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 1st were paid a $0.55 dividend. This is a positive change from Glencore’s previous dividend of $0.39. The ex-dividend date of this dividend was Thursday, August 31st.
Glencore Company Profile
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.
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