Glencore (OTCMKTS:GLNCY) Stock Passes Above 200-Day Moving Average – Should You Sell?

Glencore PLC (OTCMKTS:GLNCY)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.40 and traded as high as $9.57. Glencore shares last traded at $9.47, with a volume of 2,027,595 shares trading hands.

Analysts Set New Price Targets

Several brokerages have weighed in on GLNCY. Sanford C. Bernstein downgraded shares of Glencore from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 22nd. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research report on Thursday, October 30th. Berenberg Bank set a $9.30 target price on Glencore in a research note on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research report on Friday, September 26th. Finally, The Goldman Sachs Group downgraded Glencore to a “neutral” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Stock Down 0.8%

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.58 and a current ratio of 1.15. The stock has a 50-day simple moving average of $9.29 and a 200 day simple moving average of $8.40.

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.