Glencore (OTCMKTS:GLNCY) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• Glencore passed above its 200-day moving average, trading as high as $14.14 and last at $13.91 versus a 200-day MA of $10.63, signaling a technical breakout on volume of about 502,000 shares.
• Analysts hold a mixed but generally positive view—one Strong Buy, five Buy and four Hold—for an average rating of "Moderate Buy", yet the consensus price target of $9.30 is materially below the current share price.
• On fundamentals, Glencore shows moderate liquidity and leverage with a quick ratio of 0.58, current ratio of 1.15 and a debt-to-equity ratio of 0.87.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.63 and traded as high as $14.14. Glencore shares last traded at $13.91, with a volume of 502,377 shares changing hands.

Analysts Set New Price Targets

Several research firms have recently issued reports on GLNCY. Berenberg Bank raised Glencore from a "hold" rating to a "strong-buy" rating in a report on Wednesday, December 17th. Morgan Stanley reaffirmed an "overweight" rating on shares of Glencore in a research report on Wednesday, January 28th. HSBC downgraded shares of Glencore to a "hold" rating in a research note on Monday, January 26th. Barclays reissued an "overweight" rating on shares of Glencore in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Glencore in a research report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $9.30.

Glencore Stock Performance

The company has a quick ratio of 0.58, a current ratio of 1.15 and a debt-to-equity ratio of 0.87. The company has a 50 day moving average price of $13.23 and a 200-day moving average price of $10.63.

About Glencore

Glencore is a global natural resources company engaged in the production, processing and marketing of commodities. The business combines large-scale mining and metals operations with an extensive physical commodities trading and marketing platform. Its activities span the full commodity value chain, from extraction and smelting/refining to the commercial distribution of metals and energy products to industrial customers worldwide.

Key product areas include base and precious metals (such as copper, zinc, nickel and related concentrates), bulk commodities and energy products (including thermal coal and oil) and associated value‑added materials and services.

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