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

Key Points

• Glencore's stock price recently surpassed its 200-day moving average, reaching a high of $8.44 during trading, indicating positive momentum.
• The company announced a $0.085 dividend to be paid on October 3rd, contributing to a substantial dividend yield of 210.0% for shareholders of record.
• Analysts have mixed opinions on Glencore, with ratings varying from "Strong Buy" to "Hold," highlighting differing market sentiments regarding its performance.

Glencore PLC (OTCMKTS:GLNCY - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.62 and traded as high as $8.44. Glencore shares last traded at $8.42, with a volume of 451,983 shares.

Analyst Ratings Changes

GLNCY has been the topic of several research reports. The Goldman Sachs Group lowered shares of Glencore to a "neutral" rating in a research note on Thursday, August 7th. Citigroup reissued a "buy" rating on shares of Glencore in a research note on Thursday, August 14th. Four equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Strong Buy".

Glencore Trading Up 0.8%

The stock's 50 day moving average is $8.04 and its 200-day moving average is $7.61. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.20 and a quick ratio of 0.60.

Glencore Dividend Announcement

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