Short Interest in Glencore PLC (OTCMKTS:GLNCY) Rises By 66.4%

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays reiterated an “overweight” rating on shares of Glencore in a research note on Tuesday, July 7th. HSBC upgraded Glencore from a “hold” rating to a “buy” rating in a research note on Tuesday, April 14th. Citigroup reiterated a “buy” rating on shares of Glencore in a research note on Monday, April 13th. Royal Bank Of Canada restated an “outperform” rating on shares of Glencore in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Glencore in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Glencore has a consensus rating of “Moderate Buy” and a consensus target price of $9.30.

Glencore Trading Up 0.5%

Shares of OTCMKTS GLNCY traded up $0.08 during mid-day trading on Friday, hitting $14.64. 450,632 shares of the company were exchanged, compared to its average volume of 813,848. The stock has a 50 day simple moving average of $14.57 and a 200-day simple moving average of $14.37. Glencore has a 1-year low of $7.44 and a 1-year high of $16.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.06 and a quick ratio of 0.54.

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.