Glencore (OTCMKTS:GLNCY) Shares Cross Above 200 Day Moving Average - Here's Why

Key Points

• Glencore PLC shares have crossed above their 200-day moving average, indicating potential upward momentum, trading as high as $8.89 against a moving average of $7.63.
• The company recently announced a dividend of $0.085 per share, with a significant dividend yield of 210.0%, payable on October 3rd.
• Analyst ratings for Glencore show a favorable outlook, with four analysts assigning a Strong Buy rating, contributing to an overall average rating of Strong Buy for the stock.

Shares of Glencore PLC (OTCMKTS:GLNCY - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.63 and traded as high as $8.89. Glencore shares last traded at $8.79, with a volume of 378,351 shares traded.

Analyst Ratings Changes

GLNCY has been the subject of a number of research analyst reports. Citigroup reaffirmed a "buy" rating on shares of Glencore in a research report on Thursday, August 14th. The Goldman Sachs Group cut shares of Glencore to a "neutral" rating in a research report on Thursday, August 7th. Four analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Glencore currently has an average rating of "Strong Buy".

Glencore Price Performance

The company has a current ratio of 1.20, a quick ratio of 0.60 and a debt-to-equity ratio of 0.77. The stock has a fifty day moving average price of $8.06 and a two-hundred day moving average price of $7.63.

Glencore Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 1st will be issued a dividend of $0.085 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a dividend yield of 210.0%.

About Glencore

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments: Marketing Activities and Industrial Activities. The company engages in production and marketing copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration/production and refining/distribution.

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