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

Glencore plc (LON:GLEN) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 312.58 and traded as high as GBX 364.05. Glencore shares last traded at GBX 358.72, with a volume of 47,854,051 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GLEN shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Glencore from GBX 400 to GBX 380 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 350 price target on shares of Glencore in a research note on Monday, August 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a GBX 400 price objective on shares of Glencore in a research note on Friday, October 10th. Citigroup increased their price objective on shares of Glencore from GBX 370 to GBX 380 and gave the company a “buy” rating in a report on Thursday, August 14th. Finally, Berenberg Bank reissued a “hold” rating and issued a GBX 350 target price on shares of Glencore in a research note on Thursday, October 30th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Glencore has a consensus rating of “Moderate Buy” and a consensus price target of GBX 388.33.

Glencore Price Performance

The stock has a market cap of £42.43 billion, a PE ratio of -22.50, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The stock’s fifty day moving average is GBX 351.08 and its 200-day moving average is GBX 313.22. The company has a debt-to-equity ratio of 77.14, a current ratio of 1.30 and a quick ratio of 0.32.

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.