Glencore (LON:GLEN) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Glencore plc (LON:GLEN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 506.35 and traded as high as GBX 595.90. Glencore shares last traded at GBX 590.60, with a volume of 30,079,682 shares trading hands.

Wall Street Analysts Forecast Growth

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

Glencore Price Performance

The company has a debt-to-equity ratio of 106.72, a quick ratio of 0.32 and a current ratio of 1.06. The company’s 50 day moving average price is GBX 572.35 and its 200 day moving average price is GBX 509.41. The company has a market cap of £66.66 billion, a price-to-earnings ratio of 189.67, a P/E/G ratio of 0.43 and a beta of 0.51.

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.