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

Key Points

• Glencore's share price crossed above its 200-day moving average, trading as high as GBX 566.70 and last at GBX 555.57 versus the 200‑day MA of GBX 455.06 on heavy volume (21,865,740 shares).
• Analyst sentiment is positive with four Buys and one Hold; Citigroup raised its target to GBX 670, Berenberg and RBC have targets of GBX 600 and GBX 540 respectively, and the consensus average price target is GBX 528 (rated Moderate Buy).
• Key fundamentals show a market cap of £65.26 billion, a high P/E of 185.68 and significant leverage (debt‑to‑equity 109.99) with modest liquidity (quick ratio 0.32, current ratio 1.06), indicating valuation and balance‑sheet considerations for investors.

Glencore plc (LON:GLEN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 455.06 and traded as high as GBX 566.70. Glencore shares last traded at GBX 555.57, with a volume of 21,865,740 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Citigroup upped their target price on Glencore from GBX 620 to GBX 670 and gave the company a "buy" rating in a research note on Monday, April 13th. Berenberg Bank cut their price objective on Glencore from GBX 610 to GBX 600 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada lifted their target price on Glencore from GBX 530 to GBX 540 and gave the stock an "outperform" rating in a research report on Wednesday, February 4th. Four 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 company currently has an average rating of "Moderate Buy" and an average price target of GBX 528.

Glencore Price Performance

The company has a debt-to-equity ratio of 109.99, a quick ratio of 0.32 and a current ratio of 1.06. The firm has a fifty day simple moving average of GBX 539.03 and a 200 day simple moving average of GBX 455.06. The company has a market capitalization of £65.26 billion, a PE ratio of 185.68, a P/E/G ratio of 0.43 and a beta of 0.55.

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.

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