Glencore (LON:GLEN) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Glencore plc (LON:GLEN)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 286.81 ($3.89) and traded as high as GBX 312.55 ($4.24). Glencore shares last traded at GBX 307.13 ($4.16), with a volume of 30,745,514 shares traded.

Analysts Set New Price Targets

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

Glencore Stock Up 0.3%

The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14. The stock has a market capitalization of £36.40 billion, a P/E ratio of -1,919.56, a P/E/G ratio of 0.43 and a beta of 1.21. The stock’s 50 day simple moving average is GBX 300.29 and its 200 day simple moving average is GBX 286.81.

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.