Glencore (LON:GLEN) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Glencore plc (LON:GLEN)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Glencore from GBX 530 to GBX 540 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. raised their target price on shares of Glencore from GBX 400 to GBX 450 and gave the stock a “neutral” rating in a research note on Wednesday, December 3rd. Finally, Berenberg Bank lowered their target price on Glencore from GBX 610 to GBX 600 and set a “buy” rating on the stock in a report on Thursday, March 5th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Glencore presently has a consensus rating of “Moderate Buy” and an average price target of GBX 470.

Glencore Price Performance

The stock has a market cap of £60.61 billion, a PE ratio of 172.73, a price-to-earnings-growth ratio of 0.43 and a beta of 0.67. The stock’s fifty day moving average is GBX 497.22 and its 200-day moving average is GBX 400.97. The company has a debt-to-equity ratio of 109.99, a current ratio of 1.06 and a quick ratio of 0.32.

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.