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

Glencore PLC (OTCMKTS:GLNCY) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 714,376 shares, a growth of 66.4% from the June 30th total of 429,288 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 1,883,868 shares, the short-interest ratio is currently 0.4 days.

Glencore Stock Performance

OTCMKTS GLNCY remained flat at $14.56 on Friday. The company’s stock had a trading volume of 689,753 shares, compared to its average volume of 876,872. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.54 and a current ratio of 1.06. The firm has a fifty day simple moving average of $14.55 and a two-hundred day simple moving average of $14.37. Glencore has a one year low of $7.44 and a one year high of $16.62.

Wall Street Analysts Forecast Growth

GLNCY has been the subject of several recent research reports. Zacks Research downgraded Glencore from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 9th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Glencore in a report on Thursday. Citigroup reiterated a “buy” rating on shares of Glencore in a research report on Monday, April 13th. HSBC raised shares of Glencore from a “hold” rating to a “buy” rating in a research note on Tuesday, April 14th. Finally, Barclays reaffirmed an “overweight” rating on shares of Glencore in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus 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.