Glencore (LON:GLEN) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Glencore shares crossed above their 200-day moving average, reaching GBX 612.20 before last trading at GBX 597.10 on heavy volume of approximately 39.6 million shares.
• Analyst sentiment is broadly positive: five analysts rate the stock a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and a GBX 660 price target.
• Broker views remain mixed, with price targets ranging from JPMorgan’s GBX 510 to Citigroup’s GBX 780, while Glencore’s market capitalization stands near £69.97 billion.

Glencore plc (LON:GLEN - 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 GBX 549.13 and traded as high as GBX 612.20. Glencore shares last traded at GBX 597.10, with a volume of 39,631,004 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GLEN. Royal Bank Of Canada reissued an "outperform" rating and issued a GBX 600 price target on shares of Glencore in a report on Monday, July 27th. Jefferies Financial Group restated a "buy" rating and issued a GBX 700 price objective on shares of Glencore in a research report on Monday, July 6th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 630 price objective on shares of Glencore in a research note on Thursday, August 6th. JPMorgan Chase & Co. dropped their target price on shares of Glencore from GBX 520 to GBX 510 and set a "neutral" rating for the company in a report on Thursday, July 30th. Finally, Citigroup raised their target price on Glencore from GBX 770 to GBX 780 and gave the stock a "buy" rating in a research note on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 660.

Glencore Price Performance

The company has a market cap of £69.97 billion, a PE ratio of 199.03, a price-to-earnings-growth ratio of 0.43 and a beta of 0.51. The business has a 50 day moving average of GBX 544.11 and a 200 day moving average of GBX 549.13. The company has a debt-to-equity ratio of 108.47, a current ratio of 1.06 and a quick ratio of 0.32.

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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