Glencore (LON:GLEN) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

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 390.73 and traded as high as GBX 539.01. Glencore shares last traded at GBX 534.31, with a volume of 2,147,000,000 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GLEN shares. 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. Berenberg Bank dropped their target price on Glencore from GBX 610 to GBX 600 and set a “buy” rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada upped their price target on Glencore from GBX 530 to GBX 540 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Glencore has an average rating of “Moderate Buy” and a consensus target price of GBX 470.

Glencore Stock Performance

The stock has a market capitalization of £59.34 billion, a P/E ratio of 168.97, a P/E/G ratio of 0.43 and a beta of 0.67. The stock has a 50 day simple moving average of GBX 485.88 and a two-hundred day simple moving average of GBX 393.08. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 109.99.

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.