Glencore plc is a 47 years old multinational company active in the Metals and Minerals mining industry. It is an Anglo-Swiss undertaking that has a head office in London but Glencore’s headquarters remain in Baar, Switzerland. It is listed on the London Stock Exchange under the code GLEN and has been under the radar of many investors due to its excellent performance in the past. GLEN has recorded healthy growth in its share’s value this week, making people ask themselves “is it time to buy GLEN shares?.” Let us find the answer through the facts already available and listed in the following.
Buy Glencore Shares at eToro, the World’s #1 trading platform!
Fundamental & Technical Analysis
Glencore plc is a big player when it comes to the industrial minerals and metals industry because it handles everything from producing, processing, storing, refining, transporting, and even marketing aspects of natural resources. Extraction of the world’s most commercially popular metals like Iron Ore, Copper, Zinc, Cobalt, etc is also included in Glencore plc’s undertaking.
The company has a market capitalisation of £42.13 billion and its share value has reached £316.20 today on June 25. Glencore has maintained a healthy balance sheet and its income statement looks promising enough to improve with the upcoming earnings report released on August 5.
Technical indicators like MACD (1.5), SMA (311.85), RSI (51.48), and EMA (312.84) signal a strong BUY for GLEN to gain benefits with upcoming upticks in the share value. Buying GLEN at the current value could be highly advantageous if its growth persists. Experts have seen Glencore plc trading increase by 105% after COVID-19 took its toll on the overall industrial sector.
Recent Developments
The company recently made headlines when it reopened its mining project (called Mutanda Mining) for copper and cobalt in the Democratic Republic of Congo. This project had been on hold for the past two years but now after the announced restart can serve as another one of the company’s achievements. Mutanda mines reopening means a lot as it is the world’s largest cobalt mine and the increase in its demand has reached new heights by global automakers.
Should You Buy GLEN Shares?
As mentioned earlier, as it reopened the world’s largest Cobalt mine recently after a 2-year pause, Glencore plc performance has been off the charts. There is little to no doubt in GLEN reaching a new height in the days to come. Glencore plc’s key competitors include companies like Anglo American, BHP Group, and TC Energy. Considering all of the statistics and details regarding this company, GLEN should be a part of your portfolio for consistent growth.
Buy Glencore Shares at eToro, the World’s #1 trading platform!
"share" - Google News
June 28, 2021 at 12:50AM
https://ift.tt/3jj6Sc1
Glencore Share Price Forecast June 2021 - Time To Buy? - EconomyWatch.com
"share" - Google News
https://ift.tt/2VXQsKd
https://ift.tt/3d2Wjnc
Bagikan Berita Ini
0 Response to "Glencore Share Price Forecast June 2021 - Time To Buy? - EconomyWatch.com"
Post a Comment