Glencore (LON:GLEN) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Glencore's stock recently crossed above its two hundred day moving average, reaching a high of GBX 322.80 ($4.34) during trading.
• Several analysts have downgraded their price targets for Glencore, with Berenberg Bank setting it at GBX 330 ($4.43) while maintaining a "buy" rating.
• The company holds a market capitalization of £48.59 billion and has a debt-to-equity ratio of 77.14, indicating substantial leverage in its financial structure.

Glencore plc (LON:GLEN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 301.47 ($4.03) and traded as high as GBX 322.80 ($4.31). Glencore shares last traded at GBX 318.54 ($4.26), with a volume of 35,596,793 shares changing hands.

Analyst Ratings Changes

GLEN has been the subject of a number of recent analyst reports. Royal Bank Of Canada decreased their price target on Glencore from GBX 380 ($5.08) to GBX 360 ($4.81) and set an "outperform" rating for the company in a report on Wednesday, July 2nd. Berenberg Bank reduced their price objective on shares of Glencore from GBX 380 ($5.08) to GBX 330 ($4.41) and set a "buy" rating on the stock in a research note on Thursday, July 3rd. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of GBX 410 ($5.48).

Glencore Price Performance

The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14. The company has a market capitalization of £46.75 billion, a price-to-earnings ratio of -85.84, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The stock's 50-day moving average price is GBX 292.94 and its 200-day moving average price is GBX 300.29.

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.