Glencore (OTCMKTS:GLNCY) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Glencore PLC (OTCMKTS:GLNCY) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.76 and traded as high as $13.70. Glencore shares last traded at $13.6650, with a volume of 534,995 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating on shares of Glencore in a research report on Wednesday, February 4th. Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a research note on Wednesday, January 28th. Sanford C. Bernstein downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. HSBC downgraded shares of Glencore to a “hold” rating in a research note on Monday, January 26th. Finally, UBS Group downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Glencore currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Stock Performance

The firm has a 50 day moving average price of $11.74 and a 200-day moving average price of $9.76. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.87.

Glencore Company Profile

Glencore is a global natural resources company engaged in the production, processing and marketing of commodities. The business combines large-scale mining and metals operations with an extensive physical commodities trading and marketing platform. Its activities span the full commodity value chain, from extraction and smelting/refining to the commercial distribution of metals and energy products to industrial customers worldwide.

Key product areas include base and precious metals (such as copper, zinc, nickel and related concentrates), bulk commodities and energy products (including thermal coal and oil) and associated value‑added materials and services.