Glencore plc (OTCMKTS:GLCNF) Short Interest Down 62.5% in March

Glencore plc (OTCMKTS:GLCNF) was the recipient of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 373,733 shares, a drop of 62.5% from the February 26th total of 997,320 shares. Based on an average daily trading volume, of 99,656 shares, the short-interest ratio is presently 3.8 days.

Wall Street Analyst Weigh In

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

Glencore Stock Performance

Shares of OTCMKTS:GLCNF traded down $0.17 during mid-day trading on Thursday, hitting $7.11. 1,199 shares of the company traded hands, compared to its average volume of 169,517. The firm’s 50 day simple moving average is $6.87 and its 200 day simple moving average is $5.56. Glencore has a 52-week low of $2.88 and a 52-week high of $7.35.

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.