Short Interest in Glencore plc (OTCMKTS:GLCNF) Drops By 28.1%

Glencore plc (OTCMKTS:GLCNF) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 6,417,925 shares, a decrease of 28.1% from the December 15th total of 8,929,350 shares. Based on an average daily trading volume, of 18,376 shares, the days-to-cover ratio is currently 349.3 days. Based on an average daily trading volume, of 18,376 shares, the days-to-cover ratio is currently 349.3 days.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank set a $12.90 price target on shares of Glencore in a report on Wednesday, December 17th.

Glencore Price Performance

OTCMKTS GLCNF opened at $6.42 on Friday. The business has a fifty day moving average price of $5.23 and a 200 day moving average price of $4.60. Glencore has a one year low of $2.88 and a one year high of $6.60.

About Glencore

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.