Glencore (OTCMKTS:GLNCY) Stock Crosses Above 200 Day Moving Average – What’s Next?
by Doug Wharley · The Cerbat GemShares of Glencore PLC (OTCMKTS:GLNCY – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $13.00 and traded as high as $15.44. Glencore shares last traded at $15.42, with a volume of 556,309 shares.
Wall Street Analyst Weigh In
GLNCY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a research note on Friday, May 15th. HSBC raised shares of Glencore from a “hold” rating to a “buy” rating in a research note on Tuesday, April 14th. Barclays reaffirmed an “overweight” rating on shares of Glencore in a research note on Wednesday, February 25th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Monday, April 13th. Finally, Zacks Research raised shares of Glencore from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.30.
Get Our Latest Stock Report on Glencore
Glencore Trading Down 1.7%
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 business’s 50-day simple moving average is $15.03 and its 200 day simple moving average is $13.02.
Glencore Company Profile
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.