- The GLEN stock price is down by 0.68% since the last trading session.
- The price reflects bullish sentiment.
Glencore Plc (LSE: GLEN) was established in 1974. It is a British trading and mining company that deals in the production and marketing of sustainable and unsustainable natural resources.
Financial Analysis of Glencore Plc (GLEN) Stock
Revenue: Glencore Plc has been reporting positive growth in its revenue since 2020. The company’s trailing twelve-month revenue decreased to 190.29 Billion GBP, showing a decline in its revenue compared to its prior years.
Gross Profit: In 2021, the company’s gross profit jumped to 8.46 Billion GBP, with an overall growth of 187% compared to its previous year. Again, the company showed a major growth in its gross profit, which jumped to 13.82 Billion GBP with an overall growth of 133%. The company’s trailing twelve-month gross profit decreased to 190.29 Billion GBP, showing a decline in its revenue compared to its prior years.
Net Income: The company’s net income experienced a decline in 2020 when its net income was negative. But somehow the company managed to recover the loss and generate a net income of 3.62 Billion GBP. After recovering from the loss in 2021, the company reported a breathtaking net income of 14.06 Billion GBP. The company’s trailing twelve-month net income also decreased to 190.29 Billion GBP.
Return on Investment: The company has consistently reported an increase in its ROI. In 2022, the company’s ROI went above 20%, which is considered a high return percentage in the United Kingdom.
Equity Debt Ratio: The company’s debt ratio is below 1%, which is good for the company’s growth and performance in the future.
Technical Analysis of Glencore Plc (GLEN) Stock
In March 2023, the company’s stock commenced a bullish rally after forming support at 410.60 GBX and rallying to 502 GBX. After reaching 502 GBX, it started to face rejection and started falling until it reached its 410.60 GBX support.
The price, after consolidating in a wide range of 502 GBX to 410.60 GBX for five months, got stuck in a narrow range of 440.75 GBX to 410.60 GBX. Recently, it has broken out of the narrow range and is sustaining above it. The price is currently bullish and can reach 502 GBX. If the price also breaks above 502 GBX, then it may rise above 523 GBX.
However, for Glencore Plc Price to be bearish, it should close below the 410.60 GBX support zone, then fall to its next support at 395.20 GBX.
Conclusion
The Glencore Plc Price is bullish at the time of writing. The Price could reach its next resistance at 502 GBX. It could also be seen at 523 GBX if it breaks above the 502 GBX resistance.
Technical levels
Resistance levels: 502 GBX and 523 GBX
Support levels: 410.60 GBX and 395.20 GBX.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.