Glencore (OTCMKTS:GLNCY) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Glencore PLC (OTCMKTS:GLNCY) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Ratings Changes

GLNCY has been the topic of several research reports. UBS Group raised Glencore to a “hold” rating in a report on Monday, February 9th. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a report on Wednesday, January 28th. Berenberg Bank raised shares of Glencore from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 17th. Barclays reissued an “overweight” rating on shares of Glencore in a research note on Monday, December 8th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Stock Down 0.4%

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

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.