Glencore (LON:GLEN) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Glencore plc (LON:GLEN)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 408.86 and traded as high as GBX 527.07. Glencore shares last traded at GBX 507.60, with a volume of 2,147,000,000 shares changing hands.

Analyst Upgrades and Downgrades

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

Glencore Trading Down 2.0%

The company has a 50 day simple moving average of GBX 506.85 and a two-hundred day simple moving average of GBX 409.73. The company has a market cap of £59.37 billion, a PE ratio of 169.20, a PEG ratio of 0.43 and a beta of 0.67. The company has a debt-to-equity ratio of 109.99, a quick ratio of 0.32 and a current ratio of 1.06.

About Glencore

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.