Glencore (LON:GLEN) Shares Cross Above 200 Day Moving Average – Here’s Why

Glencore plc (LON:GLEN) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 298.63 and traded as high as GBX 368.94. Glencore shares last traded at GBX 364.60, with a volume of 2,147,000,000 shares changing hands.

Analysts Set New Price Targets

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

Glencore Stock Performance

The business’s fifty day moving average price is GBX 325.67 and its 200-day moving average price is GBX 298.63. The company has a debt-to-equity ratio of 77.14, a quick ratio of 0.32 and a current ratio of 1.30. The stock has a market cap of £42.97 billion, a PE ratio of -22.73, a P/E/G ratio of 0.43 and a beta of 1.21.

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.