Glencore (OTCMKTS:GLNCY) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Glencore PLC (OTCMKTS:GLNCY)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.40 and traded as high as $15.2060. Glencore shares last traded at $14.94, with a volume of 501,233 shares.

Analyst Ratings Changes

A number of equities research analysts have issued reports on GLNCY shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Glencore in a report on Friday, May 15th. HSBC raised shares of Glencore from a “hold” rating to a “buy” rating in a research report on Tuesday, April 14th. Citigroup reissued a “buy” rating on shares of Glencore in a research report on Monday, April 13th. Barclays reissued an “overweight” rating on shares of Glencore in a research report on Wednesday, February 25th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Glencore in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.30.

Glencore Trading Down 2.0%

The company’s 50-day simple moving average is $15.31 and its 200-day simple moving average is $13.40. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.54 and a current ratio of 1.06.

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.