Glencore (LON:GLEN) Stock Price Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Glencore's share price crossed above its 200-day moving average (200-day MA GBX 408.86), trading as high as GBX 527.07 and last at GBX 507.60 on heavy volume of 2,147,000,000 shares, a bullish technical signal.
• Analyst sentiment is mostly positive: four Buys and one Hold give a consensus rating of Moderate Buy with a consensus price target of GBX 470, while recent actions include RBC raising its target to GBX 540 (outperform) and JPMorgan lifting its objective to GBX 450 (neutral).
• On fundamentals, Glencore has a market cap of £59.37 billion but shows stretched metrics — a P/E of 169.20 and a high debt-to-equity ratio of 109.99 — indicating significant leverage despite scale.

Glencore plc (LON:GLEN - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 408.86 and traded as high as GBX 527.07. Glencore shares last traded at GBX 507.60, with a volume of 2,147,000,000 shares trading hands.

Wall Street Analyst Weigh In

GLEN has been the subject of several research reports. 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. Berenberg Bank dropped their price target 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, JPMorgan Chase & Co. lifted their price objective on shares of Glencore from GBX 400 to GBX 450 and gave the stock a "neutral" rating in a report on Wednesday, December 3rd. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Glencore currently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 470.

Glencore Price Performance

The firm has a market capitalization of £59.37 billion, a P/E ratio of 169.20, a PEG ratio of 0.43 and a beta of 0.67. The company has a quick ratio of 0.32, a current ratio of 1.06 and a debt-to-equity ratio of 109.99. The stock has a fifty day moving average of GBX 506.85 and a 200-day moving average of GBX 408.86.

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.

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