Glencore (LON:GLEN) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Glencore plc (LON:GLEN)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 431.50 and traded as high as GBX 566.40. Glencore shares last traded at GBX 558, with a volume of 31,856,223 shares.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on GLEN shares. Royal Bank Of Canada increased their price target on shares of Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Berenberg Bank dropped their price target on shares of Glencore from GBX 610 to GBX 600 and set a “buy” rating for the company in a research report on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 470.

Glencore Price Performance

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 has a market cap of £65.48 billion, a price-to-earnings ratio of 186.30, a price-to-earnings-growth ratio of 0.43 and a beta of 0.55. The company’s 50-day moving average is GBX 520.90 and its 200-day moving average is GBX 431.50.

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.