Glencore (LON:GLEN) Shares Cross Above 200 Day Moving Average – Here’s Why

Glencore plc (LON:GLEN)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 399.42 and traded as high as GBX 535.80. Glencore shares last traded at GBX 531, with a volume of 353,003,594 shares traded.

Wall Street Analysts Forecast Growth

GLEN has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Glencore from GBX 400 to GBX 450 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Royal Bank Of Canada lifted their target price on Glencore from GBX 530 to GBX 540 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Finally, Berenberg Bank lowered their target price on Glencore from GBX 610 to GBX 600 and set a “buy” rating for the company in a report on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Glencore presently has an average rating of “Moderate Buy” and a consensus price target of GBX 470.

Glencore Trading Up 1.5%

The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 109.99. The stock’s 50 day moving average price is GBX 495.14 and its 200-day moving average price is GBX 399.42. The stock has a market capitalization of £62.11 billion, a P/E ratio of 177.00, a P/E/G ratio of 0.43 and a beta of 0.67.

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.