Glencore (OTCMKTS:GLNCY) Stock Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Glencore shares have moved above their 200-day moving average of $11.15, trading as high as $14.40 and last at $14.18 on a volume of 465,880, indicating a technical breakout.
• Analyst sentiment is broadly positive (one Strong Buy, five Buy, four Hold → average rating "Moderate Buy"), but the average target price of $9.30 is materially below the current share price, implying analyst targets may lag the recent rally.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.15 and traded as high as $14.40. Glencore shares last traded at $14.18, with a volume of 465,880 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Barclays restated an "overweight" rating on shares of Glencore in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Glencore in a research note on Friday, January 30th. Morgan Stanley reiterated an "overweight" rating on shares of Glencore in a research report on Wednesday, January 28th. Berenberg Bank raised Glencore from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, December 17th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Glencore in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Glencore currently has an average rating of "Moderate Buy" and an average target price of $9.30.

Glencore Price Performance

The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 0.84. The company's 50 day moving average price is $13.75 and its 200-day moving average price is $11.15.

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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