Glencore (OTCMKTS:GLNCY) Shares Pass Above 200 Day Moving Average – Time to Sell?

Glencore PLC (OTCMKTS:GLNCY) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.03 and traded as high as $13.65. Glencore shares last traded at $13.65, with a volume of 487,761 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on GLNCY shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Glencore in a research note on Friday, January 30th. Barclays reaffirmed an “overweight” rating on shares of Glencore in a report on Monday, December 8th. UBS Group raised shares of Glencore to a “hold” rating in a research note on Monday, February 9th. Berenberg Bank raised shares of Glencore from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Glencore in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Price Performance

The business’s 50 day moving average price is $12.30 and its 200-day moving average price is $10.03. The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.87.

About Glencore

Glencore is a global natural resources company engaged in the production, processing and marketing of commodities. The business combines large-scale mining and metals operations with an extensive physical commodities trading and marketing platform. Its activities span the full commodity value chain, from extraction and smelting/refining to the commercial distribution of metals and energy products to industrial customers worldwide.

Key product areas include base and precious metals (such as copper, zinc, nickel and related concentrates), bulk commodities and energy products (including thermal coal and oil) and associated value?added materials and services.