Glencore (LON:GLEN) Shares Cross Above Two Hundred Day Moving Average of $444.45

Shares of Glencore plc (LON:GLEN) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 444.45 ($5.62) and traded as high as GBX 480.80 ($6.08). Glencore shares last traded at GBX 477 ($6.03), with a volume of 27,137,730 shares.

Analyst Upgrades and Downgrades

GLEN has been the subject of a number of research reports. Bank of America reiterated a “buy” rating and set a GBX 500 ($6.32) target price on shares of Glencore in a report on Wednesday, June 26th. Barclays restated an “equal weight” rating and issued a GBX 515 ($6.51) price objective on shares of Glencore in a report on Wednesday, May 1st. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 550 ($6.96) price objective on shares of Glencore in a report on Wednesday, May 1st. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Glencore currently has a consensus rating of “Moderate Buy” and an average price target of GBX 531.25 ($6.72).

Glencore Price Performance

The company has a market cap of £57.97 billion, a P/E ratio of 1,766.67, a PEG ratio of 0.43 and a beta of 1.29. The company has a fifty day moving average price of GBX 470.76 and a two-hundred day moving average price of GBX 444.45. The company has a debt-to-equity ratio of 85.91, a quick ratio of 0.32 and a current ratio of 1.29.

Insider Activity

In other news, insider Martin J. Gilbert bought 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was acquired at an average cost of GBX 486 ($6.15) per share, for a total transaction of £48,600 ($61,472.30). 10.35% of the stock is owned by corporate insiders.

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.