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

Shares of Glencore plc (LON:GLEN - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 305.09 ($4.15) and traded as high as GBX 305.50 ($4.15). Glencore shares last traded at GBX 298.20 ($4.05), with a volume of 46,454,883 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Glencore from GBX 380 ($5.16) to GBX 360 ($4.89) and set an "outperform" rating on the stock in a research report on Wednesday, July 2nd. Berenberg Bank cut their price objective on shares of Glencore from GBX 380 ($5.16) to GBX 330 ($4.48) and set a "buy" rating on the stock in a research report on Thursday, July 3rd. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Glencore has a consensus rating of "Buy" and a consensus target price of GBX 410 ($5.57).

Glencore Trading Up 3.9%

The firm has a market capitalization of £47.27 billion, a PE ratio of -86.78, a price-to-earnings-growth ratio of 0.43 and a beta of 1.21. The company's 50-day simple moving average is GBX 278.53 and its 200 day simple moving average is GBX 305.09. The company has a quick ratio of 0.32, a current ratio of 1.30 and a debt-to-equity ratio of 77.14.

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.

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