Glencore (LON:GLEN) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Shares of Glencore plc (LON:GLEN) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 514.18 and traded as high as GBX 541.67. Glencore shares last traded at GBX 521.70, with a volume of 53,899,234 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Berenberg Bank reiterated a “buy” rating and issued a GBX 630 price objective on shares of Glencore in a report on Friday, May 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 720 price target on shares of Glencore in a research report on Tuesday, June 9th. Citigroup upped their price target on Glencore from GBX 6,700 to GBX 7,700 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. increased their price objective on Glencore from GBX 500 to GBX 560 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Glencore currently has a consensus rating of “Moderate Buy” and an average target price of GBX 1,755.

Glencore Stock Down 1.9%

The company has a debt-to-equity ratio of 106.72, a current ratio of 1.06 and a quick ratio of 0.32. The business has a 50 day moving average price of GBX 568.72 and a 200 day moving average price of GBX 515.14. The firm has a market capitalization of £59.87 billion, a P/E ratio of 170.36, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51.

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.