Glencore (LON:GLEN) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Glencore plc (LON:GLEN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 360.82 and traded as high as GBX 519.90. Glencore shares last traded at GBX 509.20, with a volume of 84,302,180 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Glencore from GBX 400 to GBX 450 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Berenberg Bank reiterated a “hold” rating and set a GBX 350 price objective on shares of Glencore in a research note on Thursday, October 30th. Finally, Royal Bank Of Canada raised their target price on shares of Glencore from GBX 300 to GBX 330 and gave the company an “outperform” rating in a research note on Monday, January 19th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of GBX 393.33.

Glencore Stock Performance

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 company has a market cap of £60.89 billion, a PE ratio of -32.49, a P/E/G ratio of 0.43 and a beta of 1.21. The firm’s 50-day simple moving average is GBX 425.51 and its two-hundred day simple moving average is GBX 360.82.

Glencore Company Profile

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.
With over 150,000 employees and contractors and a strong footprint in over 35 countries in both established and emerging regions for natural resources, our marketing and industrial activities are supported by a global network of more than 50 offices.