Glencore (LON:GLEN) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Glencore plc (LON:GLEN)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 461.83 and traded as high as GBX 570.79. Glencore shares last traded at GBX 563.20, with a volume of 46,554,293 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GLEN shares. Royal Bank Of Canada boosted 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. Citigroup boosted their price target on Glencore from GBX 620 to GBX 670 and gave the stock a “buy” rating in a research report on Monday, April 13th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 630 price target on shares of Glencore in a research report on Friday, May 1st. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Glencore currently has an average rating of “Moderate Buy” and an average price target of GBX 534.

Glencore Stock Down 0.2%

The firm has a 50-day moving average of GBX 543.36 and a 200 day moving average of GBX 461.83. The stock has a market capitalization of £65.98 billion, a price-to-earnings ratio of 187.73, a price-to-earnings-growth ratio of 0.43 and a beta of 0.53. The company has a current ratio of 1.06, a quick ratio of 0.32 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.