Short Interest in Glencore PLC (OTCMKTS:GLNCY) Decreases By 61.9%

Glencore PLC (OTCMKTS:GLNCY) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 450,928 shares, a decline of 61.9% from the April 30th total of 1,184,810 shares. Based on an average daily volume of 1,202,853 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays reissued an “overweight” rating on shares of Glencore in a report on Wednesday, February 25th. Royal Bank Of Canada reissued an “outperform” rating on shares of Glencore in a report on Wednesday, February 4th. Citigroup reissued a “buy” rating on shares of Glencore in a report on Monday, April 13th. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a report on Thursday, April 9th. Finally, HSBC raised shares of Glencore from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Glencore currently has an average rating of “Moderate Buy” and an average price target of $9.30.

Glencore Stock Performance

Glencore stock opened at $15.16 on Friday. Glencore has a 52-week low of $7.40 and a 52-week high of $16.04. The company has a fifty day simple moving average of $15.03 and a 200-day simple moving average of $13.02. The company has a quick ratio of 0.54, a current ratio of 1.06 and a debt-to-equity ratio of 0.84.

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.