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

Key Points

• Glencore shares crossed above their 200-day moving average (200-day MA GBX 447.20), trading as high as GBX 551.30 and last at GBX 548.39 on a volume of 15,233,991 shares.
• Analyst sentiment is positive overall: Citigroup raised its target to GBX 670 (buy), RBC raised to GBX 540 and Berenberg trimmed to GBX 600, leaving an average MarketBeat rating of Moderate Buy with an average target of GBX 528.
• On fundamentals, Glencore has a market cap of £64.25 billion but shows an expensive valuation and leverage profile with a P/E of 182.8 and a debt-to-equity ratio of 109.99.

Glencore plc (LON:GLEN - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 447.20 and traded as high as GBX 551.30. Glencore shares last traded at GBX 548.39, with a volume of 15,233,991 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GLEN shares. Citigroup boosted their target price on shares of Glencore from GBX 620 to GBX 670 and gave the company a "buy" rating in a research note on Monday, April 13th. Royal Bank Of Canada boosted their target price on shares of Glencore from GBX 530 to GBX 540 and gave the company an "outperform" rating in a research note on Wednesday, February 4th. Finally, Berenberg Bank decreased their target price on shares of Glencore from GBX 610 to GBX 600 and set a "buy" rating for the company in a research note on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of GBX 528.

Glencore Price Performance

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's 50-day simple moving average is GBX 531.82 and its two-hundred day simple moving average is GBX 447.20. The company has a market capitalization of £64.25 billion, a price-to-earnings ratio of 182.80, a PEG ratio of 0.43 and a beta of 0.55.

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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