Glencore (OTCMKTS:GLNCY) Shares Pass Above 200 Day Moving Average – What’s Next?

Glencore PLC (OTCMKTS:GLNCY) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.45 and traded as high as $15.09. Glencore shares last traded at $14.97, with a volume of 450,757 shares changing hands.

Analysts Set New Price Targets

Several research firms have issued reports on GLNCY. Freedom Capital lowered Glencore from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 16th. The Goldman Sachs Group upgraded Glencore from a “hold” rating to a “buy” rating in a research report on Thursday, July 9th. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Glencore in a research report on Thursday, July 2nd. Finally, Zacks Research cut shares of Glencore from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Price Performance

The stock has a 50-day moving average price of $14.50 and a 200 day moving average price of $14.45. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.54 and a current ratio of 1.06.

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.