Glencore (LON:GLEN) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

Glencore plc (LON:GLEN) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 543.18 and traded as high as GBX 580.10. Glencore shares last traded at GBX 580.10, with a volume of 41,708,883 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently commented on GLEN shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 630 price objective on shares of Glencore in a research report on Thursday, August 6th. JPMorgan Chase & Co. cut their price target on Glencore from GBX 520 to GBX 510 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Berenberg Bank decreased their price target on Glencore from GBX 750 to GBX 740 and set a “buy” rating on the stock in a report on Friday, August 7th. Citigroup boosted their price objective on Glencore from GBX 770 to GBX 780 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 600 target price on shares of Glencore in a research report on Monday, July 27th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of GBX 660.

Glencore Trading Up 2.2%

The stock has a market cap of £69.99 billion, a P/E ratio of 199.10, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51. The stock’s 50-day moving average is GBX 539.95 and its two-hundred day moving average is GBX 544.11. The company has a debt-to-equity ratio of 108.47, a current ratio of 1.06 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.
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.