Glencore (OTCMKTS:GLNCY) Stock Passes Above 200-Day Moving Average – Should You Sell?

Glencore PLC (OTCMKTS:GLNCY) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.40 and traded as high as $9.57. Glencore shares last traded at $9.47, with a volume of 2,027,595 shares.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GLNCY shares. Berenberg Bank set a $9.30 price target on Glencore in a research note on Wednesday, October 8th. Citigroup restated a “buy” rating on shares of Glencore in a research note on Friday, September 26th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research note on Thursday, October 30th. The Goldman Sachs Group cut Glencore to a “neutral” rating in a research note on Thursday, August 7th. Finally, Sanford C. Bernstein lowered Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Glencore currently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Trading Down 0.8%

The firm has a 50-day simple moving average of $9.29 and a 200-day simple moving average of $8.40. The company has a current ratio of 1.15, a quick ratio of 0.58 and a debt-to-equity ratio of 0.87.

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, lead, nickel, zinc, 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.