Glencore (LON:GLEN) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Glencore plc (LON:GLEN)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 288.90 ($3.87) and traded as high as GBX 289.10 ($3.87). Glencore shares last traded at GBX 283.54 ($3.80), with a volume of 23,502,475 shares.

Analyst Ratings Changes

Several equities analysts have weighed in on GLEN shares. Deutsche Bank Aktiengesellschaft dropped their price target on Glencore from GBX 400 to GBX 380 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Citigroup lifted their price objective on Glencore from GBX 370 to GBX 380 and gave the company a “buy” rating in a research report on Thursday, August 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 350 price objective on shares of Glencore in a research report on Monday, August 18th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 350 price objective on shares of Glencore in a research report on Wednesday, August 20th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 386.

Glencore Stock Performance

The stock has a market capitalization of £33.71 billion, a P/E ratio of -2,181.08, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The company has a fifty day moving average of GBX 299.71 and a two-hundred day moving average of GBX 288.90. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32.

About Glencore

Glencore is one of the world’s largest global diversified natural resource companies and a major producer and marketer of more than 60 commodities that advance everyday life. Through a network of assets, customers and suppliers that spans the globe, we produce, process, recycle, source, market and distribute the commodities that support decarbonisation while meeting the energy needs of today.