Glencore PLC (OTCMKTS:GLNCY) Sees Significant Decrease in Short Interest

Glencore PLC (OTCMKTS:GLNCY) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 446,412 shares, a decline of 37.5% from the July 15th total of 714,376 shares. Based on an average daily volume of 1,649,072 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the company’s stock are sold short.

Glencore Trading Down 0.5%

Shares of OTCMKTS GLNCY traded down $0.07 during midday trading on Tuesday, reaching $14.91. The company’s stock had a trading volume of 211,366 shares, compared to its average volume of 791,543. Glencore has a 12-month low of $7.49 and a 12-month high of $16.62. The firm has a 50 day moving average price of $14.40 and a 200-day moving average price of $14.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.06 and a quick ratio of 0.56.

Wall Street Analysts Forecast Growth

GLNCY has been the subject of several research reports. Citigroup restated a “buy” rating on shares of Glencore in a research note on Wednesday, August 12th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Glencore in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Glencore in a research note on Thursday, July 2nd. The Goldman Sachs Group upgraded Glencore from a “hold” rating to a “buy” rating in a report on Thursday, July 9th. Finally, Freedom Capital lowered Glencore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Glencore has an average rating of “Moderate Buy” and a consensus price target of $9.30.

About Glencore

Glencore is a global natural resources company engaged in the production, processing and marketing of commodities. The business combines large-scale mining and metals operations with an extensive physical commodities trading and marketing platform. Its activities span the full commodity value chain, from extraction and smelting/refining to the commercial distribution of metals and energy products to industrial customers worldwide.

Key product areas include base and precious metals (such as copper, zinc, nickel and related concentrates), bulk commodities and energy products (including thermal coal and oil) and associated value‑added materials and services.