Glencore (OTCMKTS:GLCNF) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Glencore plc (OTCMKTS:GLCNF)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.83 and traded as high as $7.21. Glencore shares last traded at $7.04, with a volume of 49,595 shares traded.

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $12.90 target price on shares of Glencore in a report on Wednesday, December 17th.

Glencore Stock Performance

The business’s 50 day moving average price is $5.74 and its 200-day moving average price is $4.83.

About Glencore

Glencore plc is a global leader in the production, marketing and trading of commodities. Through its diversified portfolio, the company operates in two principal segments: Metals & Minerals, and Energy Products. In Metals & Minerals, Glencore produces and trades a wide array of industrial metals, including copper, zinc, nickel, cobalt, lead, aluminum, iron ore and coal. Its Energy Products segment encompasses the sourcing, storage and distribution of crude oil, refined products, natural gas and liquefied petroleum gas, while also managing a significant agricultural trading business that handles grains, oilseeds and sugar.

Founded in 1974 by Marc Rich as Marc Rich + Co International, the company rebranded to Glencore in 1994 and has since expanded through both organic growth and strategic acquisitions.