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

Glencore PLC (OTCMKTS:GLNCY) saw a large decline in short interest in the month of 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. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 1,649,072 shares, the days-to-cover ratio is currently 0.3 days.

Analysts Set New Price Targets

Several analysts have recently issued reports on GLNCY shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Glencore in a research report on Thursday, July 30th. Citigroup reiterated a “buy” rating on shares of Glencore in a research note on Wednesday, August 12th. Freedom Capital downgraded Glencore from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 16th. Barclays reaffirmed an “overweight” rating on shares of Glencore in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group upgraded Glencore from a “hold” rating to a “buy” rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Glencore presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Stock Performance

Shares of OTCMKTS:GLNCY traded down $0.07 during trading on Tuesday, reaching $14.91. The company had a trading volume of 211,366 shares, compared to its average volume of 791,543. The company has a fifty day moving average of $14.40 and a two-hundred day moving average 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. Glencore has a 12 month low of $7.49 and a 12 month high of $16.62.

Glencore Company Profile

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.