Glencore (OTCMKTS:GLCNF) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Glencore plc (OTCMKTS:GLCNF) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.93 and traded as high as $6.90. Glencore shares last traded at $6.90, with a volume of 20,703 shares changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank set a $12.90 target price on shares of Glencore in a research report on Wednesday, December 17th.

Glencore Stock Up 2.2%

The business has a fifty day moving average price of $5.97 and a two-hundred day moving average price of $4.93.

Glencore Company Profile

Glencore plc is a global leader in the production, marketing and trading of commodities. Through its diversified portfolio, the company operates in two principal segments: Metals & Minerals, and Energy Products. In Metals & Minerals, Glencore produces and trades a wide array of industrial metals, including copper, zinc, nickel, cobalt, lead, aluminum, iron ore and coal. Its Energy Products segment encompasses the sourcing, storage and distribution of crude oil, refined products, natural gas and liquefied petroleum gas, while also managing a significant agricultural trading business that handles grains, oilseeds and sugar.

Founded in 1974 by Marc Rich as Marc Rich + Co International, the company rebranded to Glencore in 1994 and has since expanded through both organic growth and strategic acquisitions.