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

Glencore PLC (OTCMKTS:GLNCY) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 768,335 shares, a growth of 73.4% from the September 30th total of 443,218 shares. Based on an average daily volume of 1,224,011 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GLNCY shares. Freedom Broker downgraded shares of Glencore from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Morgan Stanley reissued an “overweight” rating on shares of Glencore in a report on Monday, August 24th. Citigroup reiterated a “buy” rating on shares of Glencore in a research note on Wednesday, August 12th. Barclays reissued an “overweight” rating on shares of Glencore in a report on Tuesday, July 7th. Finally, The Goldman Sachs Group raised Glencore from a “hold” rating to a “buy” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Glencore Price Performance

Shares of GLNCY stock opened at $13.70 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $15.24 and its 200-day simple moving average is $14.68. Glencore has a 12-month low of $8.66 and a 12-month high of $17.05.

About Glencore

Glencore plc is a diversified natural resources company engaged in the production, processing, marketing and distribution of commodities. Its activities span metals and minerals, energy products and agricultural products, serving industrial customers and consumers worldwide.

The company produces and markets commodities including copper, cobalt, zinc, nickel, ferroalloys, aluminum, coal and oil. It also participates in the marketing and distribution of metals, minerals, crude oil, refined products, coal and agricultural goods.