Glencore (LON:GLEN) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Glencore plc (LON:GLEN) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 474.49 and traded as high as GBX 569.40. Glencore shares last traded at GBX 562.50, with a volume of 37,385,711 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GLEN. Berenberg Bank reaffirmed a “buy” rating and set a GBX 630 price target on shares of Glencore in a research report on Friday, May 1st. Citigroup upped 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, Royal Bank Of Canada upped 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Glencore currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 534.

Glencore Stock Down 1.9%

The stock has a market capitalization of £65.90 billion, a PE ratio of 187.50, a price-to-earnings-growth ratio of 0.43 and a beta of 0.53. The company has a debt-to-equity ratio of 109.99, a current ratio of 1.06 and a quick ratio of 0.32. The business’s fifty day moving average price is GBX 551.40 and its two-hundred day moving average price is GBX 474.49.

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.