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

Glencore plc (LON:GLEN)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 308.98 and traded as high as GBX 357.57. Glencore shares last traded at GBX 354.15, with a volume of 53,211,355 shares.

Analyst Upgrades and Downgrades

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

Glencore Trading Down 0.3%

The firm’s 50-day simple moving average is GBX 345.17 and its 200 day simple moving average is GBX 308.98. The stock has a market cap of £41.48 billion, a P/E ratio of -22.00, a PEG ratio of 0.43 and a beta of 1.21. The company has a current ratio of 1.30, a quick ratio of 0.32 and a debt-to-equity ratio of 77.14.

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.